Registered number: 00499076 Charity numbar: 249169 WILTSHIRE CREATIVE (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ishop Fleming
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) CONTENTS Page Refergncg and Adminlstratlve Detsils of the Charity. its Trustees and Advlsers Trustses, Roport Indopondènt Audltors. Report on the Financlal Statsments 17-20 Consolldated Statement of Flnanclal AcUvlOoS 21 Consolldatsd Balancè Sheet 22 Charity Balance Shggt 23 Con¥olidatsd Statement of Cash Flows 24 Notes to the Flnanclal Statemènts 25-44
WILTSHIRE CREATIVE {A COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrfY, TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees H J Birchenough1 D A H Bos8om, Chair1 V J Broom (resigned 19 June 20241 T F Clay1 M Curteis N H Fr8nkfort Iresigned 14 Decembgr 20241 M Frr (resigned 15 July 20251 V Hickey1 N Jenkins J G R Perry Iresignad 14 De¢ernr 202411 E Wills (resigned 1 May 20251 R Macdonald (appointed 25 November 202411 D Chapell (appointed 15 May 20251 N Humby lappointeA 15 May 202511 R McCay-Hines lappolnted 15 May 20251 B Mesler (appointed 15 May 20251 C Marbn {appOint 1 September 2025)1 Finance Committee Company registered nurnber 00499076 Charsty registerèd number 249169 R•glstsréd offlc8 qxli<hiJry Pl2yhousÈ Matthouse Lane Salisbury Wittshire SP2 7RA Obseriers wIshIre Councll.. T Earfey Salisbury City Council.. S Charteston Arts Council England: T Gore Jolnt Chief Executives G Machin (Artistic Director} R Corbishley (Executive Director- appointed 14 October 20241 Senlor management tsam J Coveney (Senior Producer) S Gregson (Take Part Director- appointed 7 April 20251 J Davies (Operations Director- resigned 12 December 20241 J Wood (Operations Director- appointed 1 January 20251 S Coleman (Finance Director- appointed 12 August 20241 S Lock (Director of Audiences- appointed 12 February 20251 H Taylor (Developrnenl Director) J Trtcombe (Products'on & Technical Director) K Vaughan (Head of People & Resources} Pa9e 1
LTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DLs OF THE CHARtTY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Independant auditors Bishop FMIng Audit Limited Chartered Accountants 10 Temple Back Bristol BS16FL Bankers National Westminster Bank plc 48 Blu8 Boar Row Salisbury Witishire SP1 1BG Page 2
WILTSHIRE CREATIVE {A COMPANY LIMITED BY GUAIiANTEE} TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 CHAIR'S REPORT l am delighted to introduce the Trustees, Report for 21724125. a year in which Wlltshire Creative made significant progress, wf(h many indicators that we are heading forwards with confidence, heighten ambrtion and increased resbllence. Agalnst a deficit budget of £148,000, the hard-wgrking team has been able to produce an inuease in free reserves of £146.360 to £213,601, a remarkable result. This successfvl outcome was achieved by an energetic and committed staff producing and presenting a myriad of diverse activities across rnuRiple venues. while being increasingly focussed on new revenue streams and careful cost rnanageent. 1am constantly astonished at the range and volume of activty that Wiltshlre Creative generates (in 2024125. over 350 shows and events in our venues). But nol all of this is seen widely.. there is much work that goes on largely behind the sneS with groups of specific ages, abilities or location and this is just as important to us as the high profile, main stage theatre. In 2024, our Take Part team provided 736 engagement and leamlng sessions, enriching the lives of over 15.000 people from 811 ages and backgrounds. These in¢luded over 200 free events, many of which were held outside our venues and often in partnership with Ioc81 communsty organisalions. BLrt as alway$. the headlines are dominated by Ihe work that we originate oursefves, averaging seven prodLJCtions per year. Amongst this home-produced work in the spring of 2024 was Ajan Ayckbourn's ever popular A Chorus of Disapproval, directed by Gareth Machin, our Artistic Director. The third besl-selling play that we have ever prOdUd. this show heralded a retum to larger casts on our main stage. with 13 actors. Our co-production of the new jazz musical Play On! with T8lawa Theatre Company, fusing the music of Duke Ellington with 8 contemporary re-lelling of Shakespeare'sTweh2h Night. played LJP and down the country from Liverpool to Bristol lo London. Over al the Salisbury Arts Centre in July, our youth theatre Stsge 65 presented a bold reimagining of Philip Pullman's Ghosts and Grirrirn Tales, starring 65 young actors. In 2025, Stage 65 will celebrate sixty years of creating life-changing opportunities for young people. In Sepl8mbar. wa presented Birdsong. a co-produced adaplalion of Sebatian Faulk's epic story of love and loss th81 exceeded our revenue largel. This was followed by another co-production, Stones in His Pockets, a FAay by Marie Jones imagining a cultural Collision betsveen Hollywood film-makers and tsyo Irish extras. Pantomime is the most high-profile production of our year, and in 2024 Sleeping Beauty, directed by Ryan McBryde, played to capacity audiences lover 25,000 in totsll. helping to generate income that can be used to subsidise other productions and activilies around the year. The Show won a national award for costumes, was nominated for set design and received a &star review in The Stage. Ryan also directed our hugely successful 0prOdUGt1on of The 39 Steps. from the novel by John Bu¢han, which played in February and M8rch 2025. This proved a tremendous hil wf(h audiences and we were proud to send il on its way lo Colchester and Bolton. Meanwhile, our 2023 production of The Girf on the Train began a national tour. Getting work out into the streets of Salisbury where it can be seen and enjoyed by the local population (often for freel is another important component of what we do. The 2024 Salisbury International Arts Festival opened with Patch's Parade. an ambf(ious large-scale pEce of street theatre, featuring a six-metre t811 puppet, nine puppeteers and 8 small amiy of musicians, singers and dancers rocking the route. This huge cornrnunity project drew more than four thousand people onto the streets of the city. As usual. the 2024 Festival feaiured a large varlety of differerrt experience5 inGluding medY, circus, dan. spoken word and Mus, and was attended by 6,446 people. For six months of this financial year, we were without an Executive Director and I was partiojlarly grateful lo Garelh Machin. Arb'stic Director, for keeping the show on the road throughout the interregnum. continuing the delivery of a high-quality artistic programme while keeping an eye on all of the many other moving parts of the org8nisation. In October 2024. after an extensive recnjitrnent process, we were absolutely delighted to welcome a new Executive Director, Rosa Corbishley, who had most yently come from Bristol Beacon. Rosa has brought new energy and enthusiasm to Wiltshire Creative and her impressive track record in fundraising will be invaluable as we look forwaTd to starting a capital project in 2025r26. Rosa is already building strong Page 3
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI GOVERNANCE STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 relationships wth key stskeholders, induding our public funders and local philanthropists. The latter strand of revenue will become increasingly important in the future. The refreshed and rejuvenated Joint Chief Executive team of Gareth and Rosa is well supported by a strong Senior Management Team in which the year saw the appointrnenl of a new Finan Diie¢tor, Take Part Director, Operations Director and Director of Audiences. Together, the management have engaged in a root- and-branch review of costs, efficiencies arml new revenue streams and this is already contributing significantly to the bottom line. as seen in this yearfs increase in general funds, which will allow us to make a welcome ddition to our rÈsÈrves. Thè régime in the Finance Department has already overseen the successftjl implementation of new accounting software, improved finanaal processes, and greater Board visibility. The Board itself has been subject to reinvigoration during this year. We sald 8 sad farewell lo long- serving Trustees, John Perry and Nick Frankfort. Jo Broom, Mat Freer and Eleanor Wills also left us during the year. We were pleased to welcome five new members to the Board. We are fortunate that we were able to find suitably qualified Trustees from an enlhusiaslic pool of applicants and this year we have impioved our strength in the areas of finan, corporate culture, capitsl projects. fundraising and youth-focussed theatre production. So the 2024125 year ended very positwely. with new energy and momentum driven by our excellent Joint Chief Executives, their very capable Senior Management Team and a re-energised Board of Trustees. At the time of wrib'ng, a significant project lo identify and redefine the organisalion's core mission I'Purpose'} and deliverables I'Goals'l is nearing completion th the help of the Fly A Kf(e consultancy. In the light of this greater confidence and ambition that is visible throughout Wihshire Creative, we have been able to approve a modest surplus budget for 2025126. As Usual, I would like lo thank the Trustees of Wiltshire Creative for their eontributions and support during this year. Trustees freely give their time and prtsfessional skills to oversee the welfare and prosperity of Wiltshire Creative. Despite the economic and poif(Ic81 headwinds which have brought some dark douds over regional arts organisations, I believe that Wiltshire Creative has sufficient loyalty and commrtment from the many stsff, Tru$lees and volunleers who embrace the importance of cutture in our community, to thrive in the years ahead. Doric Bossom- Chair of Trnstees Paga 4
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI GOVERNANCE STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT OBJECTIVES AND AcTIVlEs The objects of the chartty as set out in the Memorandum of ASSOaton are: For the public benefit, to promote atyj advance education induding by the productKJn and presenlation of and public participation in the arts and culture, and in parbcular through the performing arml M5ual arts and a festThial. Our Vision To enrich the cultural and creative life of Salisbury and Wiltshire Our Mission To create and present a dynam and inclusNe range of cultural experien for the people of Salisbw, Wiltshire and beyond. including our role as a South West hub for tslent development and leaming and participation Our Values CreatNe Inclusive Ethical Our Strateglc Alms To Pfoduce and present new, diverse and original work balanced with our commitment to the classic repertoire To act as a hub of diverse talent development for the South West To colebrate our work, by promotin9 our id•ntity and vision and Suring w• build und•rstanding and recognition of our work at local. regional and national levels To broaden the dNersty of audiences and participants experiencing and involved with the work of Wiltshire Creative, thereby extending our reach. profile and relevance To embed Arts Council England's Let's Create strategy and ils associated Investment Principles into the fabric of Wiltshire Creative To operate within a financially sustainable business model, which maximises income and balances financial prudence with calculated artistic risk To act as environmental champions, sharing goc¥J sustainable practice, advocatiro for the envlronmental cause and working towards a zero-carbon footprint To ensure the well-being of those people who work wrth Witshire CreatNe, induding support for skllls development and career progression To act as a dynamic and inventive cuttural partner within the aty The core objectives of 2024125 were as follows= To produce a popular Main Stage programme that maximises income F)Otential. To continue integrating the year round communitylparticipatory activity within the core artistic programme. To develop our perfomance and participatory offei for young people. To stabilise and build on our financial position. To develop a thriving culture within our work force. Paga 5
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) GOVERNANCE STATEMENT ICOTrtnNUEDI FOR THE YEAR ENDED 31 MARCH 2025 Itshire Creative is a mutti-art fom organisation that celebrates both the distinctiveness of each art form and the OPF)Ortunilies afforded lo explore the interaction btheen them. Our produced and presented work is rooted in and draws inspiration from Will$hire within which we are the largest cultural org8nisalion. We also continue lo be an exemplar on the national stsge. with a reputslion for collaboration, innovation and excellence. We forge International links, bringing the worfd to Wifishire and showing off our county to the world. Our programme is seen In our tsvo buildings, Salisbury Playhouse and S81isbury Arts Centre, as well as across the city as part of Salisbury International Arts Festival. Elements of our programme travel around the wider county. country and inleTnationally through a WKle range of partnerships within the subsidised and commerci81 sectors. From the arbsts with whom we work. to the audiences with whom we eonnecl. we support, nurture and rejoic in leaming at all levels. We seize opportunities lo engage with a greater range of socio-oconomic groups, including militsry families, those living wfth disabilities and those living in rural isolation. The charity ensures that its activities are accessible lo as diverse a range of users as possible. We offer a wide variety of participatory work to a range of 1MMUn and schi)ols' groups, thereby increasing the dwersity and numberg of OUT Participants. Will¥hlrè Cr88tiva rac8Nes fvnding from Arts Coundl England. Wittshire Council and Salisbury City Council_ We are grateful for the continued support of our statutory funders bul il is vital that the charity maximises other income streams, to ensure that the organisation continues to thrive well into the future. For example, profits from the Front of House IFOHI operation at our tsyo venues and as part of the festival are directed back into the charty's core purpose of making art. Fundr8islng continues lo be a key element of our finanaal strategy. The organisatioll has 8 wmmitted, hard-working and highty skilled staff as well as a dedicated team of volunteers led by Joint Chief Executives supported by a Senior Management Team. ACHIEVEMENTS AND PERFORMANCE Sold 91,803 lid(ets Offered 15,549 discounted tickets Distributed 7,486 complimentary tickets Sold 24.219 Sleeping Beauty tickets, achieving 840h capacty 220 of Sleeping Beauty bookers were first lime bookers Arti5C Programme Our artistic programme across both Salisbury Playhouse and Salisbury Arts Centre as well as other extèmal venues was Inade up of a mixture of home-pr0dud and presented work. Home Produced work A Chorus of Disapproval - A major revNal of Alan Ayckboum's dasslc comedy about an amateur theatre group presenting The Beggarfs Opera. Programmed as an early summer blockbuster, the production enabled us lo offer a large cast in an ambitious musical performance that attracted our third biggest ever audience for a play. Ghosts and Grimm Tales A thrilling r&imagining of Grimm Tales adapted from Philip Pullman by fomier Artistic Director. Philip Wilson and with additional material from Jayne Vvocdhouse. A large cast of young people brought the tales to lif8 at Salisbury Arts Centre with an inhouse creative team led by director. Clare Threadgold. stones in His PoGkels - A co-production with Bam Theatre Cirencester and Octsgon Botton, this acdaimed pri)duction was directed by the authorfs son, Matthew McElhinney. Paga 6
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) GOVERNANCE STATEMEMf {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Play On - A co-products'on wth Talawa Theatre Company, the British premiere of the successful Broadway reinvention of TweKth Night. Reviewed in the Guardian as a 'sparkling musical, which luxuriates in its musicality and movemenf the production subsequently travelled to Bristol Old Vic and Lyric Hammersmith. Sleeping Beauty - With a stunning design from Katie Lias whose work was reojgnised at the National Pantomime Awards. winning Best Costume Designer, this beautiful production brJght great joy for old and young alike. Th8 39 Steps - A mAjor reviv81 of Patrick Barfow's brilliant adaptation of John Buchan's novel. Co-produced with Mercury Colchester and Octsgon Theatre Bolton, we are cUrrenY discussing a future intemational lrfe for the production. In addition to these brand new pr¢JJuctions, commercial producer Simon Friend successfully produced a national tour of our 2023 revival of The Girl on the Train directed by Loveday Ingram. Presontgd programm• at Sali$bury Playhouse and Sallsbury Arts Cgntrg Throughout the year, the Main Stsge at the Playhouse and Salisbury Arts cent hosted 8 wide variety of presented music. comedy, theatre, dan, family shows and spoken word. Highlights induded Stuff and Nonsense, The Mousetrap, Omid Djalili, Reginald D. Hunter, Mark Watson. Pam Ayres, Rupert Everett, Billy Billingham, Maggie Alphonsi, James Wilton Dan, Alexandra Shulman. Cara Dillon, Jenny Eclair, Scummy Mummies, Graffib. Classics and Pasadena Roof Orchestra. Sallsbury Intematlonal Arts Festlval 2024 Our 2024 edition saw us draw inspiration from the centuries old tradrf(ion of the Salisbury Giant. This year an audience of 5,000 welcomed a new Giant to our city, Patch and their companion Penguin, who par8dèd down Milford Street, accompanied by music and dance heralding the stsrt of our City Encounters weekend - days of free family activty in and around Market Square. Within our buildings, a vibrant programme of music, circus, comedy, spoken word 8nd theatre entertained audiences over a week period. Highlights included Anton Lesser and Orchestra of the Swan's celebration of Laurie Lee with music from Elgar. Vaughan Willians, Walton, Holsl, Britten, Albeniz arKI De Falla and Ockham's Razor's groundbreaking circus adaplalion of Thomas Hardy's dassic novel Tess of the d'urbervilles. The wider programme saw perfomiances and events featuring Celebratj writers and perfomers induding Juliet Stevenson, Ruby Wax. Anthony Hofowitz, David Baddigl, Punt and Dennis and Barbara Dickson. Artist Support Wiltshire Creatlve's Artist Support programme aimed to support and build relationships with artists of drfferenl dlsciplines at all stages in their careers who were based locally and nationally and whose work fed into the life and work of the organisation. Research & Development space al Salisbury Playhouse and Salisbury Arts Centre was given lo the followlng artists: Mel Hulland Louise Voss Arran Juty Millie Booth Louise Jordan Vic Briggs Finn Lacey Krislina Stephenson Laura Jasper Michael Scott Sasha Frost lona Johnson Anna Harriot Wiltshire Creative commissioned the following- Stephen Sharkey- The House in the Woods Page 7
WILTSHIRE CREATP4E IA COMPANY LIMrrED BY GUARANTEEI GOVERNANCE STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Wilsher, Plested & Brown- Jack and the Beanstalk DIVERsrrY AND INCLUSION Diversity and Inclusion are at the heart of our mission and business plan and are actively promoted by the Board and Executive. We champion diver5f(y and a58 in the broadest sense atxl value people's differences. We are commiited to providing a working environment in which everyone feels safe and suptK)rted and is able lo realise their full potential and to contribute to the organisalion's success, irrespective of what mKJht mark them out as 'different'. Over the past year, Wimshire Creatwe has made signrficant progress in embedding inclusion and access across our organisation. We have re-engaged with our valued volunteer nthork, including Young Ambassadors and Trustees, to identify sUPPOrt needs and integrate diversity and inclusion into recruttmenl and training processes. A skills audf( has been completed for Trustees, and a refreshed induction plan is now in place. Through deepened community partnerships, wfth Exeter House, Sarum Academy, and others, we've reaclivaled projects supporbng young people and those with additional needs. This includes new drama groups b&in9 launched in several local schools, and projects involving perfomiance opportunities and creative design opportunities for SEND students. Our Inclusion Working Group is now embedded, wrth a subroup actively reviewng aCsS provision. The group have continued lo ensure that all access provision informalion is up to dale and readily available to assist in booking shows that cater for the appropriate audien. The groups have also been researching captioning screens and developing 8ccessible maiketing materials such as British Sign Language flyers and audio programmes. Staff training has focused on mental health and neurodiversity. with policies updated to reflect best pra¢tie8. A new inclusive recruf(ment prOsS is in place, supported by an applicant tracking system launching in 2025126. As part of leadership thanges, the Executive Director has been identified as Access Lead to ensure strategic 8ccountakn.lity going foNard. This work strengthens our organisational curture and our abilty to serve diverse communities wth creativity and (xre. TAKE PART During the year Wltshire Creative's Take Part programme continued to deliver a wide-ranging and inclusive programme of creative engagement, with 8 focus on five strategic priorili8S: Developing skills and opportunities for young people Building sustained relationships in areas of socio-economic disadv8ntsge Improving access for people with Special Educational Needs and Disabilities {SEND) Reducing social isolation and enhancing wellbeing throLh creative participation Youth Arts and Education Youth Theatre Stage 65 Youth Theatre delivered over 540 sessions for p8CIpants aged 6-21. A highlight was the July 2024 production of Ghosts and Grimm Tales. 8n Immersive, site-specific performance created by over 60 young people in collaboration with a local playwright. This marked the first full-sozle youlh production since the pan¢Yemic and contributed to a 10Yo increase in memtrship. P89a 8
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) GOVERNANCE STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Young Technicians The Young Techniaans programme supported 12 participants aged 14-18 in developing technical theatre and live music production sknlls. Parbcipants gained hands-on experience through placements and shadowing opportunllles, Including work on yOLrth theatre. live tnU5iG events, and the professional pantotnime. A dedicated CrealNe Careers Week connected 20 young peopte to further training and employment pathways. Youth Muslc Youth Music activity expanded through Band Nights and Jam Nights, offering plafforms for young musioans lo develop and perform. A Rap Masterclass provided intensive training for four participants. culminating in a Festival perforrr58nce. ltshlre Creatlve Academy Wiltshire Creative Academy which we deliver in partnership with Witshire College, enroll&J 33 students across Level 2 and 3 UAL Diplomas. In e8rly 2025, students devised and toured perf0m18n to local schools and care homes, integrating education with community engagement. Communlty Engaggmgnt Take Part maintained ils commitment to worktng with individuals faang barriers lo particApation, including NEET (Not in Education. Employment, or Training) young people and those with mental health challenges. The 2024 Festival's Patch's Parade exemplified this approach. engaging over 100 community performers through 22 workshops and performances. 8emerton Heath In B8merton Heath, the programme delivered targeted activity including the Play in a Day holiday scheme. weekly drama club at Sarum Academy, and the Family Fiesta, which engaged 260 residents. These initiatives led to further engagement, including bursary pl8MentS and ac6 lo the annual pantomlm8. which wel¢om&J 8CK) attendees ftom marginalised ba¢kgrounds. Early Years For eady yeaTS. Under 5s Fridays offed 37 sessions of free and low<ost creative play, including arts. crafts, dance, and yoga. Well City As a Well City partner. Wiltshire Creative supported people with mental health need5 through personal project sessions, online art dubs. and artist training. The Well City Symposium in September 2024 shared learning from the Ihree•year programme. Special Educational Needs and Dlsabllities (SEND) Access for people with SEND was enhand through 20 accessible performances and the launch of a satellite youth theatre at Exeter House Special Needs School. An inclusion assessment framework was also developed. Older People Work wlth older peOe included the Mind the Gap programme, Dan 60, and events such a8 the Jazz Socaal and Vinyl Café, now a user-led initiative. A total of 85 volunteers sUPPOrted delivery across the year, many of whom are older adults, contribLrting lo both programme delivery and community cohesion. DEVELOPMENT I FUNDRAISING Fundraised income continues to play a vital role in supporting Wimshire Creative's financial sustainability and our ability to deliver a rich and inclusive programme of work for our communities and beneficiaries. We are deeply grateful lo all those who supported us during 2024125-our long-standing donors, new supporters, corporate partners, trusts and foundations, and public funders. Their generosity enables us to expand access to the arts. deliver participatory and outreach programmes, and ensure our venues remaln welcomlng spaces for all. Paga 9
WILTSHIRE CREATIVE IA COMPANY LIMED BY GUARANTEE) GOVERNANCE STATEMENT ICOKnNUEDI FOR THE YEAR ENDED 31 MARCH 2025 Fundraising 15 undertaken by Wiltshire Creative's dedicated 0-perSOn Development team, and all ndraising activity is carried out in line with the Fundraising Regulalorfs Code of Practi. Wiltshire Crealwe is voluntarily registered with the Fundraising Regulator and is committed lo upholding the highest stsndards of ethical fundraising. We also maintsin a clear and rolyjsl complaints process to ensure the protection of vulnerable people and the wider public from any undue fundraising pressure 01 inappropriate practi$. No fiJndTaising complaints were reiVed in the financial year 2024125. Our fundraising income streams include.. Individual Giving.. Through oneaoff donations, ticket point-of-sale contributions, and our tiered Supporters scheme, which encourages regular annual giving. All donations are made freely and any discretionary benefits are lully compliant Nwth HMRC guidelin&s. Corporate Support- We are grateful lo k)cal busines5 partners who proviéed sponsorship throughout the year, including a three-year pantomime Sponsorship arrangement that supports our most popular annual production. Trusts and Foundations.. We continued to secure grants from 8 range of charitable trusts and loeal foundations. particularly to support our participatory and community outreach activities. Appeals.. Our 2024 Christmas Appeal was especially successful, enabling us lo provide over 800 free tickets to famil$ experiencir@ hardship, ensuring equitable access to the joy of live performan. Inlefnally, we have poliryes and procedures in place to ensure our fundraising practices meet both GDPR requirements and standards expected by the Charity Commission. Our Ethical Fundraising Policy guides all fundraising decisions. and staff receive regular Iraining lo ensure Complian and best practice. We are SinrelY thankful for every conlribulion made lo Wlltshire Creative this year. The generosity of our supEk)rters directly enhances our ability to inspire, engage and eonnect comMuneS through crealwity. PUBLIC BENEFIT When p18nning the charity's aclivtties for the year the Trustees have considered the Charity Commission's guidance on public kknefft, including the guidan on fee charging. Wiltshire Creative relies on grants and the income ftom fees and charges to cover ts operating costs. Signtficanl consideration is given lo those with low incomes when setting the level of ticket prices, conGessions and other charges. FINANCIAL REVIEW Group Results 2024125 was a positive year for the wIshIre Creative Group, resulling in an increase in free reserves from £67.241 to £213.601. This was achieved by increased income from Take Part activity through the year, a higher than projected ThR claim for production in 2023124, increased commercial aclivf(y and proff( from Playhouse Services Ltd IPSLI, and signrficant savings in overheads costs- mainly in stsffing due to vacant roles. Investmènt Pow•rs and Pollcy Under the Memorandum and Artlcles of Assoaation. the charity has the power lo invest in the name of the charity, lo dispose of or change any such investments, and to Lrtilise the income from those investments in the furtheran of the objects of the charty in any way the Trustees wish. Such investrnents are carefully considered to ensure that the inherent risk of the investment is low. and that any potential reductions in the value of the investments are minimised. It is with this in mind that currently funds are held in cash. Page 10
WILTSHIRE CREATIVE IA COMPANY LIMED BY GUARANTEE} GOVERNANCE STATEMENT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Principal financlal rfsks and strategles The Executive 8nd Senior Management Team, together wth the Tnjslees are fully aware of the risk profile of the business and monitor financial performance closely. A sub-committee of the main Board of Trustees meets at least four limes a year for this purpose. Rosèrves Pollcy The reserves policy is to hold free resefves sufficient lo cover 3 months of overheads which is calculated al £600,Ct)O. The airn is to attain this target within the next 4 years. Free reserves. as set out in note 17 as General Funds, in 2024125 grew from £67,241 10 £213,601. Restrict&J Reserves These reserves represent amounts gNen by donors for a specific purpose fof which the funds must be used. Once the funds have been used and the restrictions mel. the reseNes are transferred into General Funds. At the Balance Sheet date there were no unspent Reslricted Reserves. Designated ReseNes Designated reseNes are those unreslrided funds which the Trustees have specrfied are lo be used for 8 particular purpose. Wiltshir8 Crèative has no specific designated resetves at present other than the Designated Reserve equivalent to the Net Book Value of the Fixed Assets at the Balance Sheet date. These reserves are invested in these assets and are therefore not freely available lo invest in the Group activities. Dullng the year, the Trustees agreed to merge the previously designated Fixed Assets Reserve with the previously designated Restricted Capital Funds lo presenl a clearer allocation of the historical funding of current Nel Book Value of the Fixed Assets. The change of presentation was backdated to the end of 2023124 and the prior year comparisons restated. At the Balan Sheet dale, the Designated Reserves invested in Fixed Assets were £3,945,414 as sel out in Note 17. Unre8tricted I"Fre8"} Ro8orves These reserves are available, at the discretion of the Trustees, to be used for such purposes as the charlty may require. Financial year 2024125 reported an increase to the free reseNes figure of £146,360 to £213,601. PLANS FOR FUTURE PERIODS 2024125 saw Willshire Creative steady ff(Se in a fast moving and volalile landscape. To ensure we are ready for our next challenge we are looking at a fresh articulation of our mission and purpose to help us focus on what is most important. WoTking wtth sector specialists Fly a Kite we consulted with hundreds of our 51aff. stakeholders, Trustees, funders and audience members. We hav8 defined the following.. PURPOSE: Wikshire Creative brings people together for life-enhancing and enriching perfomances. We create joyful opportunities lo explore and grow creatively in Salisbury and tEyond. WHAT WE 001 OUR GOALS.. Produce performan5 that brfng pride and joy lo our region and beyond Invigorate our venues and clty spaces with a diverse range of creative eXper5en thal deliver surpri88, delight and wonder Spark imagination through a wide range of parbclpatory opportunities, inviting MO wple In our region lo live creallve lives Grow talent development ar skills pathways to nurture new work and new volces Priorilise people and planel aThJ build a $111ent business that can take opportunities in a wodd that is changing fast Page11
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) GOVERNANCE STATEMENT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 With the organisation continuing to be under considerable financial pressure we must remain flexible and nimble in developing our plans, to ensure that we rnitigate risks as much as possible and that we are able to respond to the fast-changing landscape. We will continue to make work in a financially efficient way, preserving our resources in a volatile environment and, where possible, ensure that our work is seen in Salisbury and well beyond. The core objectives of 2025126 are 8$ follows.. 1. Develop popular Main Stage pr(raMMe maximising income through commércial partnerships. 2. Celebrate the 60th anniversary of Stage'65 through a Main Stage produclion. 3. Deliver a memorable and artistically bold Salisbury Intemalional Arts Festival 4. Build 8 resilient business model and improve our reserves position 5. In full consullalion wi(h aUdienS, stakeholders and staff articulate a tÉ)Id and inclusive mission and purpose leading lo a clear and engaging business plan, working with sector leading specialists Fly a Kite. 6. Kick start our capital ambitions, working with Reed Watts Archrtects Our future programme of work will indude the following Main Stage productions.. Home Produced work Including the following.. The Da Vinci Code- A brand new production of Dan Brown's best selling novel, adapted by Rachel Wagstaff and Duncan Able and directed by award winning Chelsea Walker. Co-produc&J with Mercury. Colchester. The Jungle Book - Stage '65 Youth Theatre will produce Sonali Bhattacharyya's adaptation of Rudyard Kipling's classic story. Directed by Clare Threadgold, the production will be the first posl-pandemic Main stage expellence for the Stage'65 and will marf( the group's 60th 8nnwersary. 81ilhe Spirit- A major revival of Noel Coward's classic play, difected by Anthony Banks and co-produced with Blackpool Grand Theatre. PrOdur Lee Dean will then tour the production nationally throughout 2026. Don't Look Now- hAajor new production of Daphne Du Maurierfs classic story, adapted by Nell Leyshon. In collaboration with the Du M8urier Eslale, this new version will address issues around disabled representation within Pfevious dramatisalions. It will be co-produced wrth New Wolsey Ipswich and directed by Doug Rinloul. Jack and the 8eanstslk- Our annual pantomime by Plested, Brown and Wilshire directed by Artistic Director, Gareth Machin. Rock and Roll Man - The European premiere of a thrilling new Rock and Roll musical, co-produced wtth Julian Bird and Caiola Productions ahead of 8 national lour. Sallsbury International Arts Festival 2025 The 2025 Festival will see an ecleGti¢ programme of work inside and outside our buildings. Highlights include: Gorilla Circus presenting their exiraordinary aerial show Unity in Salisbury's Market Square Darkfield's brilliant immersive experience Flight, performed inside a 40ft shipping container Orchestra of the Swan will celebrate the Ilfe of Thomas Hardy in a unique performance at Stonehenge with actor Anton Lesser A special Festival Evensong will mark the fifft'elh anniversary of the transformation of St Edmund's Church into Salisbury Arts Centre - On the Playhouse stage, dancer Aakash Odedra will perform Songs of the Bulbul Swanse8 city Opera w511 brlng their moving new Ple Shoulder to Shoulder to Salisbury working in Ilabor81ion with Local Men's Shed groups Ballet Central will showcase a new generdtion of danrS to audiences across our region - Welcome for communities and families with a free Open Day at S81isbury Arts Centre Family shows for 811 agas Year round vlslting programme Alongside home produced and Festival work will be an extenswe visiting programme of music, Ihealre and comedy presenled In both the Salisbury Playhouse and Salisbury Arts Centre. Pa9e t2
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) GOVERNANCE STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng document Witshire Creative is a company limf(ed by guarantee and is a registered charity. Ils governing document is its Memorandum and Artlcles of Asswation daled 31st January 2018. It Is regisleied as a charily with the Charity Commission. Appointment of Trustees and organlsatlonal structur8 As set out in Article 10 of the Articles of Association, DirÈctors (who 8re the charity Trnsleesl retire and are elected annually, al the first Trustees, meeting of the financial year. One-third lor the number nearest one- Ihirdl of Directors retire from office each year, those longest in Offi retiring first and the cholce beleen any of equal service being made by drawing lols. Reliring Directors may be reappointed but any director who has served continuously as a Director for nine years may not be reappointed until one year after their retirement. One B08rd observer is nominated by Wiltshire Council and one by Salisbury Cty Council lo attend Board meetings. with no voting rights. As a key slakeholder, Arts Council England also has the right lo send officers as observers to attend Board meetings. The Board of Directors can have up lo 12 members and meets six lima8 pèr annum. Tha Joint Chief Executives are appointed by the Trustees to manage the day-tisday operations of the charity and attend meetings of the Board. In line with the relevant contracts, the Trustees further delemiine amounts due under the contracts annually and thereby monitor the perfornianee of the Joint Chief Executives. To facilitate effeciive operations, the Joint Chief ExecutNe8 have delegated authority, within terms of delegation approved by the Trustees. for operational matters, including finance, employment and arbslic perfornance related aclivity. Itom8 aro routinely minuted that are required lo be brought to the attenlion of the Board for decision, so that effective control is maintained over the appropriale strategic, finand81. organisalional and compliance issues. The Trustees further approve the annual budget including any increase in remuneration awaided to the charity's Staff. Staff remuneration levels are determined by the financial perfomiance of the organisation and ference to peer oroanisations and curient levels of inflation. New Trustees undergo 8 planned induction. This briefs them on their legal obligations under charity arKI company law, the Charity Commission guidance on public benefit. content of the Memorandum and Arbc1es of Assouation, the committee decision-making pro$Se8, the Business Plan and recent financial performance of the charity. They will also te introduced to key employees and the other Tru8tee8. Relatsd parties The CharitS wholly owned subsidiary. PLAyhouse servIs Limited IPSL) is a limlted company and wholly- owned subsidiary of Wiltshire Cre8tlve. estsblished lo provide event catering activities and operate licenced restaurants for Wiltshire Creative. 11 operates the Salisbury Playhouse and Salisbury Afis Centre bars, cafes and Front of House sales. All profits from these aCtiVe5 are transferred to Witshire Creative Limited by means of gift aid. A second wholly owned subsidiary, Salisbury Playhouse Productions Limited, (SPP Ltd) is a limited company and wholly-owned subsidiary of Wiltshire Creative operating in the performing arts sector. SPP Ltd is the producing company for all Wiltshire Creallve In-house productions and primarily 0raleS lo collect Theatre Tax R8li8f ITTR) on behalf of the charbty_ None of the Directors or Trustees ceNe remuneration for their work wlth the charfty in their capaaty as Directors. DirlorS, interests in transactions wrth relaied parties are detailed in note 24. Page 13
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI GOVERNANCE STATEMENT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Rlsk management The Joint Chief Executives of the company produce a Risk Register whlch is monitored quarterly by Ihe Board of Tnjstees and also Arts Council England. Activity and progress is also managed quarterly through Arts Gwncil England Investment Principles and Actlvf(y Plan. The Joint Chief ExecutNes also produ a yearty budget p18n for the charity which is monitored quarterfy by the Trustees. The Joint Chief Executives are required to make charoes to areas of operation if the quartoriy finance review shows a significant ovèr811 variance from budget. This procéss ènsures that rf any of the identified risks materialise, Ihay are readily identified and their impact on the charity minimised. Principal risks and uncertainties 1) RlskJuncertainty- Ongoing Cost lnfl8ts.on induding Energy, Materials and Staff Wages. Mitigation Review of spend values and robust budget control. Inveslvjate processes for reducing overhead3 in other areas and postponing of rnaintenan where possible. InveslwJate funding opportunf(ies in relation to increasing energy costs. Deferral of all projects not fully funded. until funding is secured. 21 RisklUncertainty- Failure to Reach High Income Targets (Sales. Development, Commercial In¢ome) Miligatio further investment in income generating teams training and mentodng for teams. coherent organisational strategy to support sales and development, where a clear case for support is essential. 31 riiaklunGt>rtainty- Btaff Wellbeing and Rctcntion Mitigation We continue to offer flexible working We continue lo listen lo the team through all staff meetings. regu18r team meetings and monthly 1:1s with 811 staff. We offer other benefits such as comp tickets. moments of shared celebration such as the summer staff party, cycle Scheme etc Our holiday allowan is above statutory requirement at 26 days year + bank holidays. Voluntggrs Willshire CreatNe is generously supported by 120 volunteers who ether all Front of House and Ushering duties at Salisbury Plsyhousa and the Arts Centre. They also steward a variety of events at Salisbury Intemational Arts Festival each year. Our volunteers are gener811y retired and 95¥0 live locally to Salisbury centre, with many able to walk to the Playhouse and the Arts Centre. During 2024125 we asked them to compble a questlonnaire regardir@ their motivations and the three main options that were fed back lo us were.. i) many felt isolated and lonely and volunteering helped ease this ill many love the theatre and their connection to Wiltshire Creative was important to them iii) some couldn't afford theatre tickets and volunteer ushering gNes them a way of seeing the shows. Page 14
WILTSHIRE CREATIVE (A COMPANY LIMrrED BY GUARANTEEI GOVERNANCE STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The volunteers play a key role generating income, raising nearfy £30,1X)O in their programme sales (along with the Head Usher) and are the main sellers of £80.000 of ice-creamsl They play a key role in evacuating the audience if needed and the Volunteer Manager undertakes detailed training sessions each August during the theatre's dark period. This year we will also be adding on a section in the training about selling techniques and customer care. During the last few months we have undertaken a reoyuitment process and have 14 new volunteers who have joined the training recendy. This year we startèd a Volunteer Costume Group which meets for a couple of hours each Wednesday morning. The aim is to better organise our costume resources and be more environmentally sustainable. The mo¢xl amongst the volunteers is SitiVe and buoyant and they have taken technical developmerrts wtth new credrt card mathines and the Introduction of li¢*et scanning In their stride. Sustalnabllity Wiltshire Creative remains proudly commrtted to environmental responsibility, both as an organisation and as an actnie voice wKÉhin the wider cultural sector. In 2024125, we continued to build on our sustainability journey, aligning our pra¢lie8S With tho Arts Council England's Investment Principles, particularly Environrnental Responsibility, and working as an affiliate of Culture Declares Emergency. We have declared a climate emergency and continue lo seek every opportunity to reduce our environmentsl impact and inspire awareness through our work. Our Enwronmenlal Responsibility Working Group, chaired by Finance Man8ger Caroline Corkill and sponsored by Artistic Director G8reth Machin. provides consistent leadership in this area, suptK)rted by Trustee Nicky Jenkins. The oryanisation has an orgoing commitment to reduce emissions and adopt best practices in line with the Theatre Green Book standards. Wiltshire Creative is a rnember of Julie's Bicycle, through which we track, port and ev8luale our environmental data. We are dedicated to transparent reporting, and our latest carbon results have been submitted to their national database. Our artistic programme reflected our green values throughout the year. In parbujlar, our Patch's Parade project celebrated lorAI community and environmental consciousness through sustainable maleTials and storytelling. Meanwhile, the Youth Theatre's production of Ghost and Grimms Tales achieved Theatre Green Book basic level, using repurposed set and costume elements and Iow-energy lighting design. We also partiapated in the Act Green Audience SuNey, giving us valuable insigms into the values and priorities of our Gommunity. and helping us to tailoi both messaging and operation8 lo foster behavioural change and greater environmental awareness among audiences. As we look ahead, Willshire CreatDie remains resolutely committed to further reducing our environmental footprint. embedding sustainability in everything we do. and contributing meaningfully to a greener cultural future. For 2024125, our carbon output was 493.4 tonnes, a reduction of 39.6 tonnes approx.17%1 from 2019120. Doric Bossom Chgsr Dale: q Q £)2% Page 15
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI ICONTINUEDI STATEMENT OF TRUSTEES. RESPONSIBILITIES The Tfuslees (who are also the directors of the Charity for the purposes of company law} are responsible for preparing the Trustees. Report including the Strategic Report and the financial statements in accordan with applicable law and United lfjngdom Accounting Standards Iuniteij lQngdorn Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial slalements fof each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfled that they give a true and fair ew of the stale of affaiTS of the Group and the Charity and of their incoming resources and application of reSoue8, including their income and expendilLbre. for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistenty, observe the methIS and principles of the Charities SORP IFRS 102}', make judgements and accounting estimates that are reasonable and prudent,. stale whether applicable UK Accounting Standards IFRS 102) 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 il is inappropriate lo presume that the Group will continue in business. The Trustees are responslble for keeplng adequate accourrting that are sufficient to show and explain the Group and the Charitys transactions and disclose with reasonable accuracy at any time the financial posttion of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charty and hen for taking reason8ble steps for the prevention and detection of fraud and other irregularities. Page 16
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF WILTSHIRE CREATIVE OPINION We have 8udiled the financial statements of Willshire Creative (the 'parenl charitable companll and its subsidiaries Ilhe group'l for the year ended 31 March 2025 which comprise the Consolid8ted Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Slalement of Cash Flows and the related notes, including a summary of significant accounting polic$. The financial reporting framework that has been applied in their pr8paration is applicable law and United Kingdom Accounting Standards. including Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republ of Ireland, (United Kingdom Generally Accepted Accounting Practi1. In our opinion the financial statements.. give a true and fair view of the state of the Group's and of the parent charitable companvs affairs as at 31 March 2025 and of the Group's incoming reSoUrS and applKalion of resour. includiNJ its income and expenditure for Ihe year then ended., have been properly prepared In accordance with United lfjngdom Generally Accepted Accounting Practice,. and have en prepared in accordan with the Tequirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with Inlemational Stsndards on Auditing (UK} IISAS IUK}l and applicable law. Our responslbililies under those standards are further described in the Auditors, responsibilvcies for the audit of the financial statement8 section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial RepDrting Council's Ethical SlandaTd, and we have fulfilled our other ethul responsibilities in accordance wf(h these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provKle a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial stslemenls, we have concluded that the Trustees, use of the going concem basis of accounting In Ihe prepaiatlon of the fInaC[dI LalTTle17(¥ dVViVVlicile. Based on the work we have performed, we have not Identified any material une£rtslntles relating to events or conditions that, individually or co1ctive1y, may cast significant doubt on the Group's or the parent charitable cornpanvs ability to Continua as 8 going concern for a period of at least e1ve months from whèn the financial statements a 8Uthorised for issue. Our responsibilities and the responsibibties of the Trustees wf(h respect lo going concern are described in the relevant sections of this retKJrt. OTHER INFORMATION The other infomiation comprises the information included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained wi(hin the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent olhewse expIltIY slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and. in doing so, consider whether the other infomation is materially inconsistent with the financial 8t8tements or our knowledgc obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsL8lenaes or apparent material misstatements, we are reqUId lo delerniine whether this gives rise lo a rnalerial misststemenl in the finanual statements themselves. If. based on the work we have performed. we conclude that there is a rnalerial misslalement of this other information. we are required to pOrt that fact. We have nothing to report in this regard. Page 17
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WILTSHIRE CREATIVE (CONTINUED) OPINION ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit.. the inforrnalion given in the Trustees, Report including the Strategic Report for the financial year for which the financial ststemenls are prepared 18 consistent wth the financial stalem¢nls. the Trustees, Report and the Slrateglc Report have been prepared in accordance with applicable legal requirements. mAER8 ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knowledge and understanding of the charitable company and its environment obtained in the COLtrse of the audit, we h8ve not identsfied material misstatements in the Trustees, Report including the Strategic Report. We have nothing lo report in respect of the following matters in relation to which Companles Act 2006 requires us to report lo you if, in our opinion.. the pant charitable wmpany has not kept adequate and sufficient accounting reeords, or returns adequate for our aLKlit have not been reiVed from branches not visited by us", or the parent charitable company financial statements are not in agreement the accounting records and returns., or certain disclosuTQS of Trustees, remuneration spgcrfied by18w are not made; or we have not received all the information and explanations we require for our audrt. RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees, Responsibilities Statement. the TTuslees Iwho are also the directors of the charitable company for the purposes of company lawl are sponSible for the preparation of the financi81 statements and for being satisfied that they give a true and fair view, and for such intern81 control as the Trustees delemiine is neSSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsib for assessing the Group's and the parent charitable cornpanls ability lo continue as a going concern, disclosing, as applicable, matters related to going ncern and using the golng concern basis of accounting unless Ihe Trustees either intend to liquidate the Group or the parent charitable company or lo cease operations, or have no realist altemative bul to do so. Page 18
WILTSHIRE CREATIVE {A COMPANY LIMITED BY GUARANTEE} INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WILTSHIRE CREATIVE {CONTINUED} AUDITORS, RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misst8temenl, whether due to fraud or error, and lo issue an Auditors, Report that includes our opinion. Reasonable assuran is a high level of assuran. bul is not a guarantee that an audst conducted in accor¢an with ISAS IUKI wll aayS delect a material misstalernenl when it Exists. Misstalefnenls can arise from fraud or error and are considered material if, individually Dr in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including ftaud, are instances of non-compliance with laws and rogulatiors. We dèslgn proceduras in line with our responsibilities, ouUined above, lo delecl material misstatements in reScl of irregularities. including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is detaId below.. The procedurès undertaken in order to identify and assess risks of matertal misstalemgnt in respect of irregularities, including fraud and non-compliance wth laws and regulations, are as follows.. We have consK1ere(J the nature of the industy and sector. control enwronment and business performance., We have considered the results of our enquiries of management and the Board about their own idenltfication and assessment of the risk of irregularities., For any matters identified we have obtained and reviewed the parent charitable companls documentation of their policies and procedures relakn'ng to., Identityng, evaluating and complw.ng wrth laws and regulats.ons whether they were aware of any instances of non-complian., Detecting and responding to the risk of fraud and whelhef they have kne of actual, suspected or alleged fraud., and The intemal controls established tr) mitigate lh8 risks of fraLtd or non-complian with laws and regulations. We have considered the matters discussed among the audit engagement team, including intemal tax specialists regarding how and where fraud mKJht occur in the financial ststements and potential Indlcators of fraud. As a result of these procedures, we have Consider the opportunities and incentives that may exist within the organisation for fraud and identrfied the highest area of risk to be in relation to income recognition. wth a parbcular risk in relation tts year-end cul off. In common wrth all audits under ISAS (UK) we are also required lo perform speeffie procedures lo respond to the risk of management override. We also obtsined an understanding of the gaI and regulatory fraffleworks that the Charitable Group and Company operates in, focusing on provisions of th¢)se laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considere(l in this context included Ihe Charits"es SORP IFRS 1021- Aw)unting and Reporting by Chaitbes and the Financial Reporh'ng Standard applicable in the UK and Republic of Ireland IFRS 1021. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charitsble Group and Compan¥s abilty to operate or to avoid 8 materi81 penalty. These indude data Pfotection regulations. health and safety regulations. li¢nsing acts and employment legislation. As a resutt of perforyning the above procedures. we have completeness and cut-off of revenue recognthon as a key audit malter related lo the potential risk of fraud. Our procedures to respond lo risks idents'fied included the followng= t>ocumenting and validating the control environment for income and debtors and carrying out walklhrough testing., Undertaking substsntive 8ample-based testing or proof in total calculations on all material revenue streams lo ensure revenue has been recognised appropriately and accurately, Considering manual income journals as part of our work on fraud risks documented above., Reviewng the financial statement disclosures and testing lo supporting documentslion., Page 19
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WILTSHIRE CREATIVE (CONTINUED) Enquiring of management concerning actual arKI potential litigation daims., Perfomiing analyts'cal procedures to identify any unusual of unexpected relatK)nghipg that may indicate risks of material misstalemenl,. Reading minutes of meeb'ngs of those charged with governance., and In addressing the risk of fraud thfough management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether th8 judgamants made in making ac(x)unting estimates are indicative of a potential bias and evaluating the business rationale of any signrficant transactions that are unusual or ouls*Je the normal course of business. We also communicated relevant laws and regulations and potential fraud risks lo all engagement team members 8nd remained alert to any indications of fraud Of non<ompliance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities. includino those leading lo a material misstatement in the financial slalemenls or non-compliance with regulation. This risk increases th8 mor8 that compliance with a law or règulation is removed from the events and transactions reflected in the financial slalements, as we will be less likely to become aware of instan8 of non-compliance. The risk is also greater feg8rding irregularities occurring due to fraud rather than error, as fraud involves intention81 concealment, forgery, collusion, ornission or misfepresenlalion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.Irc.o .uklaudilorsres onsibilities. This description fomis part of our Audrtors. Report. USE OF OUR REPORT This report is made solely lo the charitable compangs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable Gompanys members those matters we are required to state to thern in an Auditors. Report and for no other purpose. To the fullest extent perniitted bylaw. we do not apt or assume responsibility to anyone other than the charitable company and its mernbers, as a body, for our audit work, for this report, OT for the opinions we have fomed. David Butlor FCA DChA (Senior Ststutory Auditor) fDr and on behaW of Blshop Flgmlng Audit Limited Chartered Accountants statutory Auditors 10 Tample Back Bristol BS16FL Date.. 16 December 2025 Page 20
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2025 Unrostrlcted fund$ 2025 Totsl funds 2025 Totsl funds 2024 Nots Income from: Grants, donations and legacies.. Grants Donations and18ga¢ies Charitable activities Other trading 8Ctiwtses Investments 1,542,163 291.659 3,178.918 456.485 6.533 1.542.163 291.659 3.178,918 45fj,465 6,533 1,684,753 255,598 2.911.231 497.333 5,826 Total incom8 5,475.738 5,475,738 5.354.741 Expenditur8 on: Raising funds Charitsble activities 266.163 5,234,891 266,163 5.234.891 305,624 5.195.497 Total oxpenditure 5,501,OS4 5.501,054 5,501,121 Nèt mov•mont in funds surpluslldeficit) 125,3161 125.3161 1146,3801 Reconclllation of funds,. Total funds brought foNaTd Nei movement In funds 17 4,184,331 125,316) 4.184.331 125.3101 4.330,711 1146.300} Total funds carrigd forward 17 4.159.015 4,159,015 4,184,331 The Consolidated Statement of Financlal Activities indudes 811 gains and losses recognised in the year. The notes on pages 25 10 44 fom part of these financial statements. Page 21
WILTSHIRE CREATIVE
IA COMPANY LIMITED BY GUARANTEEI
REGISTERED NUMBER:00499076
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Flxed assets
Tangible assots
Current assets
11
3.945,414
4,117,090
Stocks
Debtors
Cash at bank and in hand
13
14
25,610
925,300
811,738
23,134
640,421
766,516
1,762,648
1,430,071
Current liabllltiès
Creditors.. amounts falling due within one
15
11.525,7871
11,304,570)
Net current assets
236,861
125,501
Total assetslgss current liabllitles
4,182,275
4,242,591
Creditors.. amounts falling due after more
than one year
16
123,2601
158.260)
Total not assots
4,IS9.015
4,184,331
Charity funds
Unrestricted funds
Designated funds
General funds
17
3,945,414
213,601
4.117,090
67,241
17
Tal unfeslricted fun
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER:00499076 CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Flxed assets Tangible assets Investments 3.926,352 101 4,104,077 101 12 3.926.453 4.104,178 Current assets Stocks Debtors Cash at bank and in hand 13 14 11,801 955.543 787,935 12,265 830,763 55Q,367 1,755.279 1,393,395 Current Ilabilitlg5 Creditors.. amounlg falling due within one year 15 11.499.457) 11,254,982} Net currgnt assots 255,822 138,413 Total assets 55 current Ilablllties 4,182.275 4,242.591 Credttors.. amounts falling du8 aftar more than one year 16 123,2601 (58.2601 Total net a6sets 4,159,015 4,184,331 Charfty funds Unrestrtcled funds Designated fund8 General ftjnds Totsl funds 3,926,352 232,663 4,104,077 80,254 17 4.159.015 4.184,331 The Charivs nel movement In funds for the ypar was £{25.316112024- £{156.81011. The Trustees acknOedge their resrA)nsibililies for complwng wrth the requirements of the Act wth respect lo accounting records and preparation of financial statements. The financial ststemenls were approved and authorised for issue by the Trustees and signed on their behalf by. Doric Bossom Chair Date.. The notes on pages 25 to 44 form part of these financial stslements. Page 23
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEE) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 Z024 Cash flows from opgrating acUvltles- soo note 19 Net cash tjsal in operating aotivitiÈs 225.239 469,775 Cash flov from Investing activities Interest reived- see note 6 Purchase of tsngible fixed asse see note 11 6,533 1145.496) 5.826 134,1451 Not cash used in investing activltles 1138,9631 128.3191 Cash flows from flnanclng actlvltles Repayments of borrowng- see note 16 Interest paid {35,0001 16,054) 135.0001 18,7031 Nol cash used In flnanGing activitios 141,0541 (43.7031 Change in cash and cash oquivalents In the yoar Cash and cash equivalents at the beginning of the year 45,222 397,753 766,516 368,763 Cash and cash u1valents at the end of tho year 811,738 766,516 The notes on pages 2510 44 form part of these financial statements Page 24
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 GENERAL INFORMATION Witshire Creative is a charitable company limited by guarantee, incorporated in England and Wales. Its registered office is Salisbury Playhouse. Mallhouse Lane. Salisbury. Wiltshire, SP2 7FL4. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial slalemenls have been prepared in accord8nce with the Charities SORP IFRS 1021- Accounting and Reporting by Charities= Statement of Recornmended Practice applicable to charities preparing their accounts in accordan wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Reporbng Stsndard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. W1hlre Creative meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogni8ed al historical cost or transaction value unless otherMse staled in the relevant accounb'ng policy. The Consolidated Ststernent of Finanaal Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiaries are consDlidatÈd on a line by line basis. The Charity has taken advantage of Ihe exempllon allowed under section 408 of 1he Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial stslemenls. 22 GOING CONCERN The Truslees assess whether the use of going conrn is appropriate i.e. whether there are any material uncertainties related lo events or conditions that may cast signrficant doubl on the ability Df thA amijp to continue 8s a ooing concern. The Trustees make this assessment in respect of a period of at least one year from the date of aulhorisation for issue of the financial stalemenls. Having considered budgets and forecasts, including cash flows, as well as the group's future funding and plans, the Trustees have concluded that the group has adequate reSoUrS lo continue in operational existence for the foreseeable future and there are no material uncertainties about the group's abilty to continue as a going COnrn, thus they Gontinue to adopt the going Goncem ba818 of accounting in preparing the financial slalements. 2.3 INCOME All income Is recognised once the Charity has enlillemenl to the incorne, it is probable that the income will be received and the amount of income receivable can be measured reliabty. Grants are included in the Consolidated Statement of Financlal ActNthes on a re1vable basis. The balance of income received for speGtfic purposes but not expended during the period is shown in the relevant funds on the Balan Sheet. whe income i8 received in advan of entillernent of receipL its recognition is deferred and included in creditors as deferred income. Where entitlement occurs tefore income is re1ve, the income is accrued. Income tax recoverable in relation to investment income is rewnised at the lime the investrnent income is receivable. Page 25
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES {contlnuedl 2.4 EXPENDITURE Expenditure Is recognised once there Is a legal or constructive oblig*ion to transler economiG benefrt lo a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs 8nd shared Costs, including support costs involved in undertaking each activity. Direct costs attributable to 8 single activity are allocated directly to that actTvity. Shared costs which contribute lo more than one activity and support costs which are not attributable to 8 single activity are apportioned beknn those activities on a basis consislenl with the use of reSoUrs. Central staff costs are albcaled on the basis of time spent. and depreciation Charges all{ated on the PDrbon of the asset's use. Expenditure on charitable activitie5 is incurred on directy undertaking the actiwties which further the Group's objectives, as well as any associated support costs. A51 expenditure is itKlusive of irrecoverable VAT. 2.5 INTEREST RECEIVABLE Interest on funds held on deposf( is included when receivable and the amount can be measured relk4bly by the Group., this is normalty upon notrfication of the interest pa or payable by the institution with whom the funds are deposf(ed. 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixgd assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset C8n be measured reliably. Tangle fixed assets are initially recogni8ed al cost. After recognition. under the cost model. tangiblg riA¥d are niea6urtd at cost less aGGumulJted depreciation and any occumuloted impairment losses. All costs incurred lo bring a tangible fixed asset into ts intended working condition should be induded in the measurement of cost. Depreciation is ¢h8rged so as lo allocate the cost of tangible fixed assets less their residu81 value over their estimated useful lives, using the straight-line method. Depreciation ig provided on the following bases.. Freehold property and improvements Leasehold propety and improvements Plant, equipment and motor vehicles betsyeen S and 50 years straight line befvn 10 and 40 years slraighl line 10OA to 33% 01 cost per year 2.7 INVESTMENTS Fixed asset investments are a fomi of financi81 instrument and are InallY recognised al their transaction cost and subsequently measured at fair value at the Balance Sheet date. unless the value cannot be measured reliably in which case it is measured at cost less impaimienl. Investrnenl gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investsments, in the Consolidated Statement of Financial AclNilies. Inveslments in subsidiaries are valued at cost $$ provision for imp8imienl. Page 26
WILTSHIRE CREATIVE (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Icontlnuedl 2.8 STOCKS Stocks are valued at the lower of cost and net realisable value after rnaking due allowan for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and vallable overheads. 2.9 DEBTORS Trade and other debtors are recognised 81 the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 CASH AT BANK AND IN HAND Cash at bank arid in hand includes cash and short-tem highly liquid investments with a short maturity of three months or les$ from the date of acquisition or opening of the deposit or similar account. 2.11 LIABILITIES LiabiliOes are recognised when there is an obligation al the Balance Sheet date a5 a iesult of a past event, il is probable that a transfer of economic benefft wll be requiTed in setuement. and the amount of the settlement can be e5ti¥nated ieliably. Liabilities are recognised al the amount that the Charity anticipates it will pay lo settle the debt or the amount il has reiVed as advanced payrnenls for the goods or serwces il must provide. 2.12 FINANCIAL INSTRUMENTS The Group only has financial assets and financial liabilities of a kind that qualrfy as basic financial instruments. Basic financial instruments arè ints'ally recognised al transaction value and subsequently rnea5ured at Ilieli ¥elll¥iiitriil value with the Extsption of bank loana which are ¥ubacgucntly measured at amortised cost using the effeclThie interest method. 2.13 OPERATING LEASES Rentals paid under operating leases are charged to the Consolidated Ststement of Fin8nclal Activities on a slraight-line basis over the lease tem. 2.14 PENSIONS The Group operates a defined ¢onlribulion pension scheme and the pension charge represents the amounts payable by the Group to the tund in respect of the year. 2.15 FUND ACCOUNTING General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for parbcular purposes. The aim and use of each designat fund is set out in the notes to the financh?I statements. Reslricled funds a funds which are lo be used in accordance specffic restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the $clC fund. The aim and use of each restricted fund is sel out in the notes lo the financial stslements. Page 27
WILTSHIRE CREATNE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM GRANTS, DONATIQNS AND LEGAGIES Unrestrlcted Rostrlctsd funds funds 2025 2025 Totsl funds 2025 GRANTS Arts Council England- South W881 Wiltshire Council Salisbury City Council 1.301,458 195.765 44,940 1.301,458 195.765 44,940 1,542,163 1,542,163 Donations 291,659 291,659 1.833,822 1,833,822 Unrestricted funds 2024 Reslricled funds 2024 Toial funds 2024 GRANTS Arts Council England- South West Wiltshire Council Sali8hury Ctty Council Wiltshire Community Foundatlon 1,301,458 198,750 H.940 124,605 10,000 1,426,063 208,750 44,940 5,000 5,000 1,545,148 139,605 1,684,7S3 Donalons 255,598 255.598 1.800.746 139,605 1,940,351 Page 28
WILTSHIRE CREATIVE {A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM CHARITABLE AGTIVITIt"S Unrestrlcted funds 2025 Total funds 2025 Total ftjnds 2024 In HouselCo-productK)ns - Titel income and programmes Visiting Companies - Ticket Income Education and Outreach Work Events and Hiring Miscellaneous Income 2,103,880 788,529 158,185 107.662 20.662 2,103.880 788.529 158,185 107,662 20.662 2,014,032 733,809 77,278 23,107 63.005 3,178,918 3.178,918 2,911.231 All prior year amounts relate to unreslricled ftjnds. INCOME FROM OTHER TRADING ACTivrriES In¢oma from non ¢haritable trading actlvitios UnrEStrictsd funds 2025 Total funds 2025 Total funds 2024 plaOUSe Services Limited Sales Theatre tsx relief recelvable 456,465 456,465 441,86S 55.468 456,465 456,46S 497,333 All prior year amounts relate lo unrestricted funds. INVESTMENT INCOME Unrestridgd funds 2025 Total funds 2025 Total funds 2024 Interest Receiv 6,533 6.533 5,826 Page 29
WILTSHIRE CREATIVE IA COMPANY LIED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 EXPENDITURE ON RAISING FUNDS OTHER TRADING EXPENSES Unrnstricted funds 202S Totsl funds 2025 Total funds 2024 Cost of sales Admini8tralion expenses Cost of sales staff costs Administration depreciabon 138.615 14,140 109,871 3.537 138,615 14.140 109,871 3,537 16S,507 31,131 106,230 2,756 266,163 266,163 305,624 ANALYSIS OF EXPENDtruRE BY ACTIVITIES tivities undertaken dlrectly 2025 Support costs 2025 Totsl funds 2025 Theatre production and education 2,955,196 2,279,695 5.234.891 Actwities undertaken directby 2024 Support costs 2024 Totsl funds 2024 Theatre production and education 2,773.995 2.421,502 5.195,497 Pa9e 30
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF EXPENDITURE BY ACTIVITIE5 ICQNTINUEDI ANALYSIS OF DIRECT COSTS Thaatre productSons and education 2025 Total funds 2025 Total funds 2024 Staff costs Depreciation Other Dire¢l Costs 724,757 303,035 1,927,404 724,757 303,035 1,927,404 805,722 306.701 1,661.572 TOTAL 2025 2.955.196 2.955.196 2.773,995 ANALYSIS OF SUPPORT COSTS Total funds 2025 Total funds 2024 staff costs General office costs rinonce ¢ts 1,756.969 394,199 1.647.058 533,074 121.891 109,479 Professional fees 21,082 2.279.695 2,421,502 STAFF COSTS Group 2025 Group 2024 Charity 2025 Charity 2024 Wages and salarie8 Social securTty costs Contribution to defined contribution t*nsion schemes 2.382.458 164.589 2.375,586 140,514 2.279.606 158,989 2.275,757 135,532 44,550 42,910 43,131 41,491 2.591.597 2.559,010 2N81.726 2,452.780 Pa9e 31
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STAFF COSTS (CONTINUED) The average number of persons employed by the Charity during the year was as follows.. Charlty 2025 No. Qroup 2025 No. Group 2024 No. Charity 2024 No. Theatre Cafe, bar & shop 93 23 83 11 93 83 116 93 83 The average headcount expressed as fulklime equivalents was.. Group 2025 No. Group 2024 No. Charity 2025 No. Charity 2024 No. Theatre Cafe, bar & shop 55 56 55 60 60 55 The number of employ90¥ whose employee bonefrts lexduding employer pension costs) exceeded £60,000 was: Group 2025 Group 2024 No. In the band £70,001- £80,000 In the band £110,001- £120,000 The key management personnel of the Charity comprise the Trustees (who do not receive remuneration for their iole as TTusleesl, the Joint Chief Executives and the Senior Management Team as listed on page 1. The total amount of employee benefrts (including employeT pension Contributions and employer National Insuran conlribulions) received by key management personnel for their services lo the Charty was £482,199 - 13 personnel 12024.. £531,297 - 10 personnel). Included in the 2025 total are stsff restructuring costs amounting to £NIL 12024.. £30,000) and additional costs from employing interim finance directors for part of the year. 10. TRUSTEES. REMUNERATION AND EXPENSES During the year, no Trustees recelved any MneratiOn or other benefits {2024 - £NIL}. During the year ended 31 March 2025, expenses lotslling £NIL were reimbursed or paid direcuy to Trustees fr&r training and travel12024- £177) Page 32
WILTSHIRE CREATIVE IA COMPANY LIED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. TANGIBLE FIXED ASSETS GROUP Long-tsmi 19asehold Flxture$ and property ffttSngs Freehold property Total COST At 1 April 2024 Additions 4,101.040 4,284,280 2.184.120 145.496 10.569.440 145,496 Al 31 March 2025 4.101.040 4.284,280 2,329,616 10.714,936 DEPRECIATION At 1 April 2024 Charge for the ar 2,991.835 96.508 1,640.486 130A67 1.820,029 90,197 6.452.350 317.172 Al 31 March 2025 3,088.343 1.770,953 1,910,226 6,769,522 NET BOOK VALUE At 31 March 2025 1.012,697 2,513,327 419.390 3,945,414 At 31 March 2024 1,109,205 2,643,794 364,091 4,117,090 Page 33
WILTSHIRE CREATIVE IA COMPANY LIMrrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. TANGIBLE FIXED ASSETS {CONTINUEDI GROUP (CONTINUED) CHARITY Long-tenn leasehold Flxtur9s and property flttlngs Freehold property Total COST At 1 April 2024 Addltions 4.101,040 4.284.280 2,142,061 135.910 10.527,381 135,910 Al 31 March 2025 4101,040 4.284,280 2,277.971 10,663,291 DEPRECIATION At l April 2024 Charge for the year 2,991.835 96.508 1.640.486 130,467 1.790,983 6,6fj0 6,423,304 313.635 At 31 March 2025 3.088,343 1,770.953 1,877,643 6.736.939 NET BOOK VALUE At 31 March 2025 1.012,697 2.513.327 400,328 3.926.352 At 31 March 2024 1.109,205 2.643,794 351,078 4,104,077 Wiltshire Creative owns the freehold of Salisbury Playhouse. For a period of 80 years from the last day of 1977 if Salisbury Playhouse aSeS to be used for the purposes set out for it in its planning application, Willshire Council has the right lo repurchase the s((e for £1 on one month's notice Page 34
WILTSHIRE CREATIVE {A COMPANY LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. FIXED ASSET INVESTMENTS Investments In subsldlary companie$ CHARITY COST OR VALUATION At l April 2024 101 AT 31 MARCH 2025 101 NEf BOOK VALUE AT 31 hhARCH 2025 101 AT 31 MARCH 2024 101 13. STOCKS Group 2025 Group 2024 Charlty 2025 Charity 2024 SioCKS ana goods ft)r resale 29,010 23.134 11,601 12,265 14. DEBTORS Group 2025 Group 2024 Charity 2025 Charity 2024 DUEWITHIN ONE YEAR Trade debtors Amounts owed by group urMlertakirvJs Other debtors Prepayments and accrued income Theatre Tax Relief Isalisbury Playhouse Ltdl 68,606 19,621 61.030 46.004 673,164 175,345 7,719 175,641 4f6,491 170.912 15,446 175,345 665.903 76,549 170,912 373.339 925,300 640,421 955.543 830,763 Page 35
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. cREDoRs.. AMOUNTS FALLING DUE WNIN ONE YEAR Group 2025 Group 2024 Charity 2025 Charity 2024 Other loans Trade creditors Amounts owed tr) group undertakin99 other taxation and social utY Other Creditors Accruals Deferred income 35.000 206.740 35,000 164,256 35,000 196,639 4.995 16.468 60,842 368.803 81fj,710 35,000 147,618 17,423 64,105 385,809 816.710 91,271 86,561 104,486 22,998 91,271 64,611 93.486 822.996 1.525.787 1,304,570 1,499.457 1,254,982 Group 2025 Group 2024 Charity 2025 Charity 2024 Deferred income at 1 April 2024 Resour deferred during the year Amounts released ftom prevK)us periods 827.196 491.101 822,996 491,101 816,710 827,196 816.710 822,996 {827,196) 1491,1011 (822.9961 {491,1011 816.710 827,196 816,710 822,996 16. CREDITORS: AMOUNT8 FALLING DUE AFTER MORETHAN ONE YEAR Group 2025 Group 2024 Charfty 2025 Charity 2024 Other loans 23,260 58,260 23.260 58,260 The bank loan relates to the Comnavirus Business Intemiplion Loan Scheme, the amount is repaydble rnonthly over a term of 6 years and has an interest rate of 2.62¥0 over the base rale per annum. The loan is secured by way of a al charge over the freehold property held at 100A Fisherton Street, Salisbury. Page 36
WILTSHIRE CREATIVE (A COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 March 2025 Balance at 1 April 2024 Transfgrs Inlout Income Expendlturg UNRESTRICTED FUNDS DESIGNATED FUNDS Fixed assets 4,117,090 {314,0491 142.373 3,945,414 GENERAL FUNDS General fund SPP Non&charitable trading funds PSL Non-charitable trading funds 67.241 3,933,295 {3.865.0511 78.116 213,601 1.085,978 11,058.3941 127,5841 456,465 1263,560) 1192.9051 FREE RESERVES 67.241 5,475,738 (5.187.005) (142.373} 213,601 TOTAL UNRESTRICTED FUNDS 4.184,331 5.475.738 15,501,054} 4.159.015 Page 37
WILTSHIRE CREATIVE IA COMPANY LIMITED 8Y GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS- PRIOR YEAR As restated Balance at Transfers 31 March inlout 2024 Balan at 1 April 2023 Income Expèndltu UNRESTRICTED FUNDS DESIGNATED FUNDS Fixed assets 904,932 {104,2041 3,316.362 4,117,090 GENERAL FUNDS General fund SPP Non-charitsble Iradlng funds {80,430} 4,717,803 (4,748,059) 177,927 67.241 110,4301 497,333 (302.9211 {183.982) FREE RESERVES 190,8601 5.215,136 15,050.9801 16,0551 67.241 TOTAL UNRESTRICTED FUNDS 814,072 5.215,136 {5,155,184} 3,310,307 4,184,331 Page 38
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. STATEMENT OF FUNDS (CONTINUEDI As feslated Transfers Inlout Balan at 31 March 2024 Bal8n(y3 at 1 April 2023 Income Expenditure RESTRICTED FUNDS Theatre Developmgnl Fund Eda Moore Lega¢y National Lottery Capital Grant Capital Building Campaign ACE - Small Scale Capitsl Capital works inc extemal lighting Salisbury Arts Centre 2018 remedial works Breathe Project Youth Theatre Bursaries ACE Strategic review ACE National Lottery Project Grant- The Island 247,626 47,329 95.805 475,746 41.$47 13,9871 (243,6391 (1,1961 146,133) {35,946} 159,859) {25,0091 1450,7371 116,1831 125,3641 2,453,933 1105,5751 12.348.358} 127,113 27,540 {17.3561 1109,757) 127,5401 5,000 35.000 (5,000} (36.080> 1,080 99,605 199,6051 3,516.639 139.605 1345,9371 13,310,307} TOTAL OF FUNDS 4,330,711 5.354,741 1S,501,121 } 4,184,331 Page 39
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2025 17. STATEMEN I OF FUNDS (CQNTINUEDI DESIGNATED FUNDS The Designated Funds have bn reinstated this year, together wf(h the prior year comparisons, to merge the previously described Unreslricled Fixed Assets Funds with the Restricted Capital Funds set out below that have historically been invested fully in the Group Fixed Assets. The Board considers that on these fvnds were invested in the Company Fixed Assets the restrictions had been mel, and (f is much clearer lo show the direct connection between the Funds and the historical Net Book Value of the Fixed Assets. As the Company undertakes a new phase of Capital Fund raising and Asset development over the next few years, individual funds will be recognised as Restricted Funds until fully invested in the completed new Frxed Assets, The previous Fixed Asset funds now merged into Designated Funds wefe= Theatre Devekjpmenl Fund: This fund arose from capital donations and grants received in order to fund the building of the theatre and extension together with subsequent specrfic fundraising appeals have en launched to help finance the theatre's various refurbishment programmes. The balance transferred at end of 2023124 to De8ignated Funds was £247,626. Eda Moore Legacy.. This fund arose from the legacy of the late Eda Moore who bequeathed funds to the theatre fof the repair 8nd restoration of the theatre building. The balance transferred al end of 2023124 10 Designated Funds was £47,329. National Lottery Capital Grant was given to fund the 1996197 refurbishment of Salisbury Playhouse. The balance transferred at end of 2023124 to Designated Funds was £95,805. This grant included a restriction that the grant shall be repayable lo the National Lottery if the recipient aseS trading or is placed into receivership or liquidation. The balance outstsnding on this restricted reserve stood al £23,913 St 31 Mar 2025 and wll be fulty depreciated by the end of the calendar year and the Trustees have concluded that this reslriclion is not material. CaDital Buildinq Campalon.. This arose in 21J)5 for the campaign to raise ftjnds to build a rehearsal space and communty and education spa. The balan transferred at end of 2023124 to Designated Funds was £475,746. ACE Small Scale Capital.. This arose in 2015116 from Arts Council England small scale G4pilal fund towards improvements in the Salberg. This included new seating. IKJhting and sound as well as improved insulation. The balance transferred 81 end of 2023124 to Designatsd Fund5 was £41.547. Capital Works." These grants were made in respect of capital expenditure on St. Edmunds Church whlch had been funded mainly by grants fTom the Arts Council Lottery Fund, the Heritage Lottery, Salisbury District Council and a variety of trusts and individual donors. The balance transferred al end of 2023124 to Designated Funds w88 £2,453,933. Salisbury Arts Centre Remedial Works.. This fund comprTses grant fundiny from Witshire Council, following the m¢rger in February 2018 towards the central capit81 Èxpenditure on Salisbury Arts Centre including work on lighting, drains, fire systems and technical controls. The balance transferred al end of 2023124 to Designated Funds Was £127,113. GENERAL FUNDS General Fund.. Thi8 represents funds which have not been given fof a specffic purpose. Non4haritable Tra¢Jing Funds.. This represents the net assets of the subsKliary companies. Page 40
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. ANALYSIS OF NET ASSETS BEfwEEN FUND5 ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrastricted fund$ 2025 Totsl funds 2025 Tangib5e fixed assets Current assets Creditors due wrthin one year Creditors due in more than one year 3,945,414 3.945,414 1.762,648 1,762,648 {1,525.787) 11.525,7871 123,2601 123.2601 TOTAL 4,159,01 S 4.159,015 ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2024 Total funds 2024 Tangible fixed assèts Current assets Creditors due within one year Creditors due in more than one year 4,117,090 4.117,090 1,430,071 1,430,071 11,304,570} (1,304,570) 158.2601 158,2601 4,184,331 TOTAL 4,184,331 Page 41
WILTSHIRE CREATIVE {A COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLI FROM OPEIiATINO ACTIVITIES 19. Group 2025 Group 2024 Nel expenditure for the year {as per Ststemenl of Fin8naal Activf(iesl 125,3161 1146,380) ADJUSTMENTS FOR: Depreciats"on charges Loss on the salè of fixed assets Decreasel{increase) in sltxks Incfease iri debtors Increaselldecrease) in credrtors InleTesl Teceived Interest Paid 317,172 309,456 1.630 5,316 165,4351 362.311 {5.8261 8,703 (2.476) (46,2431 {17,419) 16,533) 6,054 NET CASH PROVIDED BY OPERATING ACTMTIES 225,239 469,775 20. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2025 Group 2024 Cash in hand 811,738 766,516 TOTAL CASH AND CASH EQUIVALENTS 811,738 766,516 21. ANALYSIS OF CHANGES IN NET DEBT At 1 April 2024 Cash flows At 31 March 2025 Cash at bank and in hand Debt dve within 1 year Debt due after 1 year 766,516 135,000) 158,2601 45,222 811.73 {35,000) 123,2601 35,000 673,256 80.222 753,478 22. PENSION COMMITMENTS The group operatss a defined contribution pension heMe. The assets of the scheme are held separately Page 42
WILTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEE} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 PENSION COMMITMENTS IGQNTINUtDI from those of the group in an independently administered fund. The pension cost charge preSentS contributions payable by the group to the fund and in the year amounted lo £44.500 12024.. £42,910). £9.704 {2024.' £7,725) was payable lo thé fund at the balance sheet date and is included in other creditors. 23. MEMBERS. LIABILrrY Each member of the charitable eompany undertakes to contribute to the assets of the company in the event of it beiThJ wound up while they are 8 member, or within one year after they ase to be a mernber. sijch amount as may be requiTed, not exceeding £10 for the debts and li8bililies contracted before they Ce to be a member. 24. RELATED PARTY TRANSACTIONS During the ye8r. the Group reiVed a donation amounting to £3,000 from Salisbury Cty Almshouse, an enlily in which a Trustee of Wiltshire Creative is a Trustee. The Charity has taken advantage of the exemptlon in FRS102 Sectk)n 33.1A and not discbsed transactions with group enllttes. CONTROLLING PARTY The Ch8rty is controlled by its Trustees Page 43
LTSHIRE CREATIVE IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 26. PRINCIPAL 5U651DIARIEèi The folk)wing were subsidiary undertaknngs of the Charity and induded in the consolmlation.. Namès Company numbar Ragist•r8d office or principal Class of Holding place of buslness shares Salisbury Playhouse Prcxluctions Limited 09217165 Salisbury Playhouse, Makhouse Ordinary Lane, Salisbury, Willshire, SP2 7FIA Salisbury Playhouse. Malthouse Ordinary Lane, Salksbury. Wiltshire, SP2 7FA 100% Playhouse Services Llmked 02694718 1000 The financial results of the subsidiarigs for the year were.. Names Incorno Expendlture ProfitllLoss) for the year Salisbury Playhouse Prcuct1OnS Limited Playhouse servi Limited 1.721.693 456.465 11.694,1081 (263,5601 27,585 192.905 Page 44