**REGISTERED COMPANY NUMBER: 00815227 (England and Wales) REGISTERED CHARITY NUMBER: 253606** ## **ANNUAL REPORT AND CONSOLIDATED** **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** **FOR** **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS For the Year Ended 31 March 2025** ||**Page**| |---|---| |**Report of the Trustees**|1 to 6| |**Report of the Independent Auditors**|7 to 9| |**Consolidated Statement of Financial Activities**|10| |**Consolidated Balance Sheet**|11| |**Consolidated Cash Flow Statement**|12| |**Notes to the Consolidated Cash Flow Statement**|13| |**Notes to the Consolidated Financial Statements**|14 To 30| ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2025** The Trustees who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Vision** This is yours. ## **Mission** We at the SJT believe that culture provokes interest and fires our imaginations; that sharing our experiences and our stories helps build communities and that collaboration builds a compassionate and engaged society. Our role is to give everyone the opportunity to discover and celebrate their creativity. ## **Objectives** - We will inspire and entertain through a high-quality programme of work and tell stories which reflect the diverse lives of our communities. - We will play an integral civic role in our town and our county - We will invest in our staff, artists and communities, supporting them on their journeys and developing local skills, knowledge and aspiration. - We will cultivate an organisation-wide audience engagement focus, developing relationships, loyalty, support and a sense of belonging. - We will adopt a socially and ethically responsible approach across all aspects of our operation and minimise the impact we have on the environment. - We will think commercially and work in partnership, harnessing our expertise to collaborate and innovate. ## **Public benefit** As a charity, and with regard to Charity Commission guidance, the Trustees recognise the Trust's duty to carry out its operations for the benefit of the public. In particular the Trustees consider that the work of the Trust in the last year has advanced the arts, culture and heritage of the Borough of Scarborough and its region for the benefit of a broad audience. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** For the second consecutive year, 2024/25 saw us achieve record levels of box office sales, with an increase of well over £100,000 on 2023/24. The highlight of the summer season was the staging of _Brassed Off_ , which grossed over £250,000 and became our biggest selling show ever. Later in the year Sir Alan Ayckbourn’s 90th play, _Show and Tell_ , saw the highest turnover for a new Ayckbourn play in over a decade. We continued to showcase new writing and our autumn production of newly commissioned play _The Whitby Rebels_ by Bea Roberts also broke records by being our most successful autumn show. Overall, our six main summer shows all exceeded their budget targets by a cumulative £165,000. Towards the end of the financial year, we staged _Love’s Labours Lost (More or Less)_ , our second collaboration with Shakespeare North Playhouse in Prescot following the highly successful _The Comedy of Errors (More or Less)_ in 2023. In October 2024 we were delighted to win the UK Theatre Award for Best Show for Children And Young People for our 2023 Christmas production of _Beauty and the Beast,_ written by Nick Lane and directed by our Artistic Director Paul Robinson. Complementing our own produced shows, throughout the year we also presented a wide-ranging selection of visiting work to suit the diverse tastes of our audiences, including drama, comedy, dance and music as well as shows for children. Our work in the local community continued with particular thanks to our ongoing partnership with McCain Foods who fund several projects in the Eastfield area. Our recently created Young Company initiative has continued to go from strength to strength; recruitment to this programme for 16 - 25 year olds actively pursuing a career in the performing arts has quadrupled in the eighteen months it has been running, with its first cohort now securing places at prestigious drama schools. Page 1 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2025** Beyond our programme, the first phase of our £4.5M capital project was completed in March 2025 with the replacement of the section of roof above our main auditorium along with the installation of new air handling units to control the heating and ventilation of that space. The completion of this business-critical stage of the project is an important step towards securing the future of our theatre and improves our overall energy efficiency, reducing our carbon footprint and making the Stephen Joseph Theatre a more environmentally friendly venue. We are extremely grateful to North Yorkshire Council, The Garfield Weston Foundation, the Bernard Sunley Foundation and Scarborough Theatre Development Trust who all provided grants that enabled this essential work to go ahead. Planning for the next phase of this major project, including the replacement of the remaining roof and air handling units above the McCarthy theatre, is now underway, with the remainder of the funding needed being sought from a variety of sources. Should these applications be successful, it is hoped that all works will be completed by late 2028. The theatre retains strong links with North Yorkshire Council and is involved with several initiatives and projects taking place within the town, including the Town Centre Team, Tourism Advisory Board and the Scarborough Neighbourhoods Board, all working hard to support the regeneration of the town. The theatre was also involved with (and hosted several events for) the Scarborough Fringe, a part of the Scarborough Fair series of festivals within the town. As ever, we remain grateful to our donors and members who continue to support us each year. Their donations helped towards both our artistic programme and maintaining our building. Notably, one special project included essential repairs to the mesh above the round auditorium that ensures our lighting rigs can be easily and safely accessed by our production staff. We would also like to place on record our continuing gratitude to our two main funding partners, Arts Council England (ACE) and North Yorkshire Council. North Yorkshire Council have generously agreed to continue their funding until the end of the 2027/28 financial year, recognising our value to the local area as both a tourist attraction and a centre of artistic and cultural excellence. ACE has extended funding through to the end of 2026/27 and opened an application process for the following year. ## **FINANCIAL REVIEW** The Trust made a surplus for the year on unrestricted funds of £6,962. During the year, it was decided by the Board to increase the size of the Capital Project Fund to £300,000. This increase was made by re-allocating sums from other designated funds. The closing Unrestricted Reserves were £782,958 and total Reserves £1,434,737. Page 2 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2025** ## **Principal funding sources** The Trust’s funding for its charitable operations continued to be primarily through ACE and North Yorkshire Council. However, funding to enable specific artistic projects has been received from a number of individual donors and local businesses; this, together with a number of one-off legacies and the continued support of our regular donors all contributed to the Trust's financial viability. ## **Investment policy and objectives** Under the Memorandum and Articles of Association, the Charity has the power to invest in any way the Trustees wish. The Trustees look to maintain an appropriate level of liquidity in cash balances for the operating requirements of the Charity. Funds in excess of those required for the Charity's short-term operating requirement are invested, on our behalf, by CCLA. The funds managed by CCLA are held in two separate portfolios with different investment criteria. Both portfolios are regarded as cautious and aim at providing growth for the Charity's investment. Investment account decisions will be made by the Board based on a recommendation from the Chair and the Chair of the Finance Task Group. ## **Reserves policy** The Trustees have examined the requirements for reserves in light of the main risks to the Charity. Sufficient secured funding is in place to ensure that the theatre is able to continue to operate and be enjoyed by its stakeholders. It is the policy of Scarborough Theatre Trust to hold reserves equivalent to 3-6 months operating costs. At 31 March 2025 free reserves were £16,017 (2024 £132,723). ## **FUTURE PLANS** The Trust's particular focus over the coming years is on its capital project - the replacement of its remaining air handling units and flat roof, together with a full refurbishment of the McCarthy auditorium which will significantly improve its accessibility. Planning for this major project is well underway and at time of writing the project is at RIBA Stage 4 with designs in place. Applications for major funding are being made and a public fundraising campaign strategy has also been devised. It is hoped that once the requisite funding has been secured the project will be completed by late 2028. More broadly, the Trust's policy continues to be one of maintaining financial viability alongside its strong artistic vision. Alongside these measures, a prudent approach will continue to be adopted towards budgeting and setting income targets for the annual programme of work, although the Trustees were delighted to see strong growth in audiences in 2024/25. It is hoped that this growth will continue, ensuring that the theatre can continue to create high-quality work within its financial parameters. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** Scarborough Theatre Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 August 1964 and amended to allow for current governance arrangements on 29 August 2007. It is registered as a charity with the Charity Commission. ## **Appointment of new Trustees** As set out in the Articles of Association the chair of Trustees is nominated by the Board. North Yorkshire County Council nominates one Trustee. All members are circulated with invitations to nominate Trustees prior to the AGM advising them of the retiring Trustees and requesting nominations for the AGM. When considering Trustees, the Board has regard to the requirement for any specialist skills needed. ## **Organisation** The Board of Trustees administers the Charity. The Board meets quarterly and there is a sub-committee covering finance which meets quarterly. The Board established a nominations committee responsible for developing the skills and diversity of the Trustee membership and for planning recruitment and succession planning. Page 3 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **REPORT OF THE TRUSTEES For the Year Ended 31 March 2025** ## **Trustee induction and training** New Trustees undergo training to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the Charity. Trustees are actively encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. In addition, specific theatre finance training is given to those joining the Finance sub-committee. ## **Key management remuneration** The Trustees consider that the Board along with the senior management team comprise the key management personnel of the Charity and are in charge of directing and controlling, running and operating the Trust on a day to day basis. All the Trustees give their time freely and none are remunerated. Details of expenses reimbursed during the year are shown in the notes to the accounts. The pay of senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the Charity, the Trustees benchmark against pay levels in other similar organisations in the North of England to ensure that the remuneration is fair and not out of line with that generally paid for similar roles. ## **Risk management** The Trustees have a risk management strategy which comprises: - a quarterly review of the risks the Charity may face, better facilitated by a formalised risk register which is updated regularly; - the establishment of systems and procedures to mitigate those risks identified in the register; - the implementation of procedures designed to minimise any potential impact on the Charity should those risks materialise. Historically, particular attention has focused on non-financial risks arising from fire, health and safety of artists and audience, management of performing rights and food hygiene. A key element in the management of financial risk is the establishment of reserves and the regular review of a reserves policy by Trustees. Page 4 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** **REPORT OF THE TRUSTEES For the Year Ended 31 March 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 00815227 (England and Wales) **Registered Charity number** 253606 ## **Registered office** Stephen Joseph Theatre Westborough Scarborough North Yorkshire YO11 1JW ## **Trustees** Ms T A Calcraft (appointed 14.6.24) Mr D A Chance Dr G Davies Ms A Donkor Mr J Lee Mr R S Lumby (resigned 1.9.25) Ms S L F Nicholson Ms E J Richardson (appointed 18.12.24) Mr T Sheader Mr D T Warner MBE Mr J Wilkinson Mr A H Wilson Ms S K S Wright ## **Company Secretary** Ms C Routh ## **Auditors** Fortus Audit LLP Chartered Accountants & Statutory Auditors 5&6 Manor Court Manor Garth Scarborough North Yorkshire YO11 3TU Page 5 SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE REPORT OF THE TRUSTEES For th• Year Ended 31 March 2025 Joint Chlel Execul]v&s Ms C Routh Mr P Robin50n Sgnkers Borcloy5 Bank Pl st. Nichola5 Slreet Scarborough YOI 12ZL InvesTrmenl Manage CCLA Investment Monooemenl Ltd 85 Queèn Victtsiia Street London EC4V 4Er STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees Iwho ore olso the directors ol Scorborovgh Theatre Trvst Limited lor the purposes of ¢ompony lowl are responsible loi preparing the Report ol the Trvstees and the finonciol slolementg in accordoncè with opplicable low ond Unilttd ￿rngdOm Accour)ting Slandords (United Kingdom Generolly Accepted Accounting Procticel. Compony low require5 the Trustee5 to prepore financial statements for each linoncial year which give o true and fair view of the 5tote ol off01￿ of the choriloble compony and of Ihe incomino resourc&5 ond application of resources, including the income anc5 expenditure. of the chariloble compony lor that period. In preparing those financial slotements. the Trustees ore required lo select suitoble occounliru policies and then apply them con515tentty.' obseNe the methods and principles in the Choiity SORP., moke judgement5 ond estimotes thot are reasonable and prvcsent., prepoie thè financial 5tat6menls On the going concem basis unless il is inapproprfote lo presume thol the choriloble compony will continve in business. The Trvsl&es ore responsible for keeping proper accounting records which disclose with r8asontsble occurocy at any time the financial position ol the choritoble company and lo enable them to ensvre thol the finonciol slolemenls comply with the Componies Act 2006. They are olso responsible for soleguarding the assgts ol the charitoble company and hence for toking rèasonoble Stèps lor the prevention ond detection of fraud and other I￿e9VIorIt19s. In so for as the Trustèes are owore.. there is no rel8vont oudil information ol which thè choritable company s auditors are unoware- and the Trustee5 have token oll slep5 thot they ought to hove tok6n to make themselves awore ol ony relevont oudit infomalion ond to establish that the auditors are oware ol Ihot infomation. AUDITORS The oudilors. Fortus Audt LLP, will be proposed for re-oppoinlmenl at the forthcomin9 Annual Generol Meeting. Thls report 15 prepor6d in accordance with the exemptiow offorded to small companies Approved by Order of the Board ol TnJsl&&s on 28 November 2025 and Signed on ils behalf by.. Ms S Nicho150n- Trustee Poge ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH THEATRE TRUST LIMITED** ## **Opinion** We have audited the financial statements of Scarborough Theatre Trust Limited (the 'parent charitable company') and its subsidiary (the ‘group’) for the year ended 31 March 2025 which comprise the consolidated Statement of Financial Activities, the group and parent company Balance Sheets, the consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ## In our opinion the financial statements: - give a true and fair view of the state of the group’s and of the parent charitable company's affairs as at 31 March 2025 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006 ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Scarborough Theatre Trust Limited’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the group financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the group financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 7 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH THEATRE TRUST LIMITED** ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent charitable company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to take advantage of the small companies’ exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees ## **Responsibilities of Trustees** As explained more fully in the Statement of Trustees' Responsibilities, the Trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary 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 responsible for assessing the group’s and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. ## **Our responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or 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 fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK. We understood how the group is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of Board minutes and discussions with those charged with governance. We assessed the susceptibility of the group and the parent company’s financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the group and parent charitable company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets. We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Page 8 **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SCARBOROUGH THEATRE TRUST LIMITED** A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditors responsibilities. This description forms part of our Report of the Independent Auditors. ## **Use of our report** This report is made solely to the charitable company's 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 state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Frances Howard FCA (Senior Statutory Auditor) for and on behalf of Fortus Audit LLP Chartered Accountants & Statutory Auditors 5&6 Manor Court Manor Garth Scarborough North Yorkshire YO11 3TU Date: ................................................................. Page 9 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For the Year Ended 31 March 2025** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
Operation of theatre 5
Other trading activities
3
Investment income
Theatre tax credit
4
**Total**
**EXPENDITURE ON**
Raising funds
6
**Charitable activities**
Operation of theatre 7
**Total**
**NET INCOME/(EXPENDITURE)**
**Net gains on investments**
**Transfers between funds**
21
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
229,944
2,098,156
207,947
12,947
264,936
2,813,930
100,919
2,704,090
2,805,009
8,921
(1,959)
-
6,962
775,996
782,958|Restricted
funds
£
906
286,361
-
-
-
287,267
-
110,029
110,029
177,238
-
-
177,238
474,541
651,779|2025
Total
funds
£
230,850
2,384,517
207,947
12,947
264,936
3,101,197
100,919
2,814,119
2,915,038
186,159
(1,959)
-
184,200
1,250,537
1,434,737|2024
Total
funds
£
198,103
2,238,628
214,127
9,687
165,774
2,826,319
109,530
2,605,682
2,715,212
111,107
12,845
-
123,952
1,126,585
1,250,537| |---|---|---|---|---| The notes form part of these financial statements Page 10 SCARBOROUGH THEATRE TRUST UMifED TRADING AS STEPHEN JOSEPH THEATRE CONSOLIDATED AND CHARITY BALANCE SHEErs 31 MARCH 2025 GTOUP Compgny 2025 2025 2024 2024 Notes FIXED ASSETS Tongible assets Investments 484,239 111.318 304,232 113,278 484.239 304.232 113.278 595.557 417.510 595.557 417,510 CURRENT A55Ers stoc Debtor5 C05h at bonk ond in hond 4.550 1.034,372 473.209 5.523 491.314 923.423 4.550 982,823 415.183 5,523 639.048 576.240 1.512.131 1,420,260 1.402.556 1,220,811 CREDITORS Amovnts lolling due within one year 18 1672.9511 1587,2331 1589.1521 1453.7261 NET CURRENT ASSETS 839.180 3.027 813,404 767,085 TOTAL ASSETS LESS CURRENT LIABILITIES 1,434,737 1,250.537 1.408.961 1.184.595 TOTAL FUNDS I.￿4.737 1,250,537 1,408,901 1,184,595 FIINDS Unrestricted funds Designotecl luThYs Reslricled funds 21 446.342 336.616 651,779 415.941 360.055 474,541 420,566 336.616 651,779 349,999 360.055 474,541 TOTAL FUNDS 1,434.737 1,250.537 1,408.961 ,184.595 The financial ￿ateMentS wère approved by the Board ol Tru5tee5 and auth0ri5ed lor issve on 28 November 2025 arid were signed on [15 beha￿ by= M5 S Nicholson- Trustee Th@ nolès lom) part of thèsè finoncial statements Pogèll ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **CONSOLIDATED CASH FLOW STATEMENT For the Year Ended 31 March 2025** |Notes
**Cash flows from operating activities**
Cash generated from operations
A
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
Interest received
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2025
£
(248,332)
(248,332)
(214,679)
(150)
12,947
(201,882)
(450,214)
923,423
473,209|2024
£
455,800
455,800
(161,149)
-
9,687
(151,462)
304,338
619,085
923,423| |---|---|---| The notes form part of these financial statements Page 12 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT For the Year Ended 31 March 2025** ## **A. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net (expenditure)/income for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Interest received
Decrease/(Increase) in stocks
Decrease/(Increase) in debtors
Increase in creditors
Loss on disposal of fixed assets
**Net cash (used in)/provided by operations**|2025
£
186,159
34,668
(12,947)
973
(543,058)
85,718
155
(248,332)|2024
£
111,107
42,385
(9,687)
(3,107)
258,011
57,091
-
455,800| |---|---|---| ## **B. ANALYSIS OF CHANGES IN NET FUNDS** |**Net cash**
Cash at bank and in hand|At 1.4.24
£
923,423|Cash flow
£
(450,214)|At 31.3.25
£
473,209| |---|---|---|---| The notes form part of these financial statements Page 13 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the Year Ended 31 March 2025** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. Scarborough Theatre Trust Limited is a charitable private company limited by guarantee in England. The address and place of business is given in the Charity information within the Trustees’ report of these financial statements. The nature of the Charity's operations and principal activities are to advance the arts, culture and heritage of the borough of Scarborough by providing an internationally recognised theatre. The accounts are presented in £ Sterling which is functional currency of the Charity. ## **Basis of consolidation** The consolidated financial statements incorporate those of Scarborough Theatre Trust Limited and its subsidiary (i.e. the entity that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits). All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the financial statements of the subsidiary to bring the accounting policies used in line with those used by the group. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. ## **Income** All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. For donations and grants to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation or grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Income received in advance of a theatrical performance or tour is deferred until the performance has been delivered and then at that point will be recognised as income in the accounts. The trust's wholly owned subsidiary, Stephen Joseph Theatre Enterprises Limited (Company Number 02481307), benefits from the receipt of theatre tax credits which it receives in relation to productions that are closely linked to the theatre's objects and activities. As a result, the company donates the tax credit to the trust and this is recognised in the accounts in the period to which the claim relates to match the treatment in the subsidiary accounts. continued… Page 14 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. ## **Raising funds** Costs of generating funds are those costs incurred in attracting voluntary income and grants, and those incurred in trading activities that raise funds. ## **Charitable activities** Charitable activities include expenditure associated with the staging of stage productions, tours, exhibitions and educational programmes and include both the direct costs and support costs relating to these activities. ## **Support costs** Support costs include those incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Improvements to property - Over remaining period of the lease Furniture, fixtures, fittings and equipment - Straight line over 6 years Motor vehicles - 20% on cost Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase and is calculated using the first-in, first-out basis. Provision is made for damaged, obsolete and slow-moving stock where appropriate. ## **Taxation** The Charity is exempt from corporation tax on its charitable activities. The company is registered for VAT on a partial exemption basis. ## **Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust. continued… Page 15 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **1. ACCOUNTING POLICIES - continued** ## **Foreign currencies** Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Going concern** Because of the nature of its activities the Trust, in common with similar organisations, is dependent on grants for its continuing existence and there is no guarantee that such aid will continue indefinitely. The company is also dependent on its bankers for working capital at certain times. These accounts have been drawn up on a going concern basis on the assumption that grant funding and support from the Trust's bankers will continue. ## **Loans and borrowings** Loans and borrowings are initially recognised at the transaction price including transaction costs. ## **Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising are recognised in the profit and loss account. ## **2. DONATIONS AND LEGACIES** |Donations|2025
£
230,850
230,850|2024
£
198,103| |---|---|---| |||198,103| Of the donations received in the year £906 relates to restricted funds (2024 - £35,384). ## **3.** |**OTHER TRADING ACTIVITIES**||| |---|---|---| ||2025|2024| ||£|£| |Programme sales|15,968|14,993| |Sweets and ice creams|60,789|61,584| |Bar sales|131,190|137,550| ||207,947|214,127| continued… Page 16 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** |**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Box office income
Operation of theatre
Touring income
Operation of theatre
University income
Operation of theatre
Grants
Operation of theatre
Theatre lettings
Operation of theatre
Miscellaneous income
Operation of theatre
Creative engagement
department income
Operation of theatre
Grants received, included in the above, are as follows:
Arts Council
North Yorkshire County Council
Other grants
Phillip Carne Trust
McCain's
Mein Trust
Garfield Weston
Bernard Sunley Capital
Kirby Foundation
Mesh fund


|2025
£
12,947
2025
£
1,146,453
62,735
18,000
1,040,828
-
71,688
44,813
2,384,517
2025
£
649,449
142,604
-
-
15,000
5,000
150,000
50,000
15,000
13,775
1,040,828|2024
£
9,687
2024
£
1,019,439
60,000
17,000
897,519
5,884
210,305
28,481
2,238,628
2024
£
649,449
214,287
3,783
7,000
15,000
8,000
-
-
-
-
897,519| |---|---|---| Of the grants received in 2025, £286,361 related to restricted funds (2024 - £131,466). continued… Page 17 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **6. RAISING FUNDS** ## **Other trading activities** |**Other trading activities**||| |---|---|---| ||2025|2024| ||£|£| |Bar, shop, sweets and ice cream purchases|82,649|85,787| |Programmes|9,249|8,395| |Development costs|9,021|15,348| ||100,919|109,530| ## **7. CHARITABLE ACTIVITIES COSTS** |**2025**
Operation of theatre
**2024**
Operation of theatre
**8.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Rent
Water rates
Insurance
Light and heat
Telephone
Postage and stationery
Publicity and marketing
Guest directors, designers and visiting companies’ fees
Commissions and royalties
Production expenses
Outreach department expenses
Touring expenses
Motor expenses
Ticket printing
Theatre licences and subscriptions
Repairs and renewals
Cleaning
Miscellaneous administration
Legal and professional fees
Bank charges and interest
Merchant and spektrix charges
Irrecoverable VAT
Fundraising costs
Grant expenditure and transition costs
Designated fund expenditure
Depreciation
Loss on sale of assets|Direct
Costs (see
note 8)
£
2,801,474
2,590,732|Support
costs (see
note 9)
£
12,645
14,950
2025
£
1,124,388
27,500
10,302
43,721
104,761
7,261
5,940
105,638
255,576
97,275
485,832
29,079
25,528
5,170
2,698
9,513
75,583
13,516
23,533
2,197
1,929
41,079
128,251
11,008
105,935
23,439
34,667
155
2,801,474|Totals
£
2,814,119| |---|---|---|---| ||||2,605,682| ||||2024
£
973,023
27,500
11,052
35,717
88,245
7,026
7,252
106,472
231,159
68,098
489,789
20,687
28,725
4,657
3,174
15,229
82,578
11,539
31,307
4,271
1,809
40,092
109,279
6,516
137,207
5,944
42,385
-| ||||2,590,732| continued… Page 18 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **9. SUPPORT COSTS** |Operation of theatre
Governance costs, included in the above, are as follows:
Auditors' remuneration
Auditors' remuneration for non-audit
work|Governance costs
2025
2024
£
£
12,645
14,950
2025
2024
£
£
10,495
12,950
2,150
2,000
12,645
14,950| |---|---| ## **10. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): |Auditors' remuneration
Auditors' remuneration for non-audit work
Depreciation - owned assets
Deficit on disposal of fixed assets|2025
£
10,495
2,150
34,667
155|2024
£
12,950
2,000
42,385
-| |---|---|---| ## **11. TRUSTEES' REMUNERATION AND BENEFITS** There were no Trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **Trustees' expenses** There were no Trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. ## **12. STAFF COSTS** |**STAFF COSTS**|| |---|---| |2025
£
Wages and salaries
1,021,589
Social security costs
82,731
Other pension costs
20,068
1,124,388|2024
£
880,811
74,627
17,585| ||973,023| continued… Page 19 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **12. STAFF COSTS - continued** The average monthly number of employees during the year was as follows: |Fundraising of voluntary income
Operation of theatre|2025
2024
1
1
76
73
77
74| |---|---| The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: |
£60,000|
was:||| |---|---|---|---| |||2025|2024| |£60,001|- £70,000|2|-| The cost of key management personnel for the year was £382,173 (2024: £329,661). ## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Operation of theatre
Other trading activities
Investment income
Theatre tax credit
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Operation of theatre
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net gains on investments**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
162,719
2,107,162
214,127
9,687
165,774
2,659,469
109,530
2,464,520
__________
2,574,050
85,419
-
12,845
98,264
677,732
775,996|Restricted
funds
£
35,384
131,466
-
-
-
166,850
-
141,162
__________
141,162
25,688
-
-
25,688
448,853
474,541|Total
funds
£
198,103
2,238,628
214,127
9,687
165,774
2,826,319
109,530
2,605,682
__________
2,715,212
111,107
-
12,845
123,952
1,126,585
1,250,537| |---|---|---|---| continued… Page 20 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **14. GROUP AND CHARITY TANGIBLE FIXED ASSETS** |Furniture,
fixtures,
Improvements
fittings
to
and
property
equipment
£
£
**COST**
At 1 April 2024
297,991
631,601
Additions
Disposals
195,579
-
19,100
(52,538)
At 31 March 2025
493,570
598,163
**DEPRECIATION**
At 1 April 2024
24,171
601,189
Charge for year
Eliminated on disposal
5,549
-
29,118
(52,533)
At 31 March 2025
29,720
577,774
**NET BOOK VALUE**
At 31 March 2025
463,850
20,389
At 31 March 2024
273,820
30,412
**GROUP AND CHARITY FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 April 2024
Revaluations
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024|Motor
vehicles
Totals
£
£
13,500
943,092
-
-
214,679
(52,538)
13,500
1,105,233
13,500
638,860
-
-
34,667
(52,533)
13,500
620,994
-
484,239
-
304,232
Unlisted
investments
£
113,278
(1,960)
111,318
111,318
113,278| |---|---| ## **15. GROUP AND CHARITY FIXED ASSET INVESTMENTS** There were no investment assets outside the UK. The historical cost of investments amounted to £100,000 (2024 £100,000). The parent company’s investments at the balance sheet date in the share capital of companies include the following. The investment is fully impaired. ## **Stephen Joseph Theatre Enterprises Limited** Registered office: Stephen Joseph Theatre, Westborough, Scarborough, YO11 1JW Nature of business: Theatre Productions Class of share: Ordinary Holdings: 100% Turnover: £1,021,809 Expenditure £1,075,711 Loss for the year : £53,902 Net assets : £12,040 continued… Page 21 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **16. STOCKS CHARITY AND GROUP** |Stocks
**17.**
**DEBTORS**
**Group**
2025
2024
£
£
Amounts falling due within one year:
Trade debtors
58,767
15,795
Other debtors
10,000
20,487
Prepayments and accrued income
820,989
303,772
889,756
340,054
Amounts falling due after more than one year:
Other debtors
144,616
151,260
Aggregate amounts
1,034,372
491,314|2025
2024
£
£
4,550
5,523
**Company**
2025
2024
£
£
58,767
15,795
10,000
20,487
769,440
451,506
838,207
487,788
144,616
151,260
982,823
639,048|2024
£
5,523| |---|---|---| Other debtors falling due after more than one year relates to a loan made to Scarborough Theatre Development Trust under a loan agreement dated 9 January 2015. Under the agreement, the loan was repayable in full by 31 January 2020 and no interest is due if repaid in full by that date. The loan was renegotiated in June 2017 to be repaid after 25 years with an interest rate of 0.25%. ## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Receipts in advance
Trade creditors
Social security and other taxes
Amounts owed to group undertakings
Accrued expenses|**Group**
2025
2024
£
£
227,972
191,112
60,042
57,917
34,086
16,743
-
-
350,851
321,461
672,951
587,233|**Company**
2025
2024
£
£
227,972
191,112
60,042
57,917
34,086
16,743
12,040
12,040
255,012
175,914
589,152
453,726|**Company**
2025
2024
£
£
227,972
191,112
60,042
57,917
34,086
16,743
12,040
12,040
255,012
175,914
589,152
453,726| |---|---|---|---| ||||453,726| ## **19. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and five years
In more than five years|2024
£
27,500
110,000
1,003,750
1,141,250|2024
£
27,500
110,000
1,031,250| |---|---|---| |||1,168,750| The above reflect the total amounts payable over the term of the lease for the theatre premises. continued… Page 22 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **20. ANALYSIS OF NET ASSETS BETWEEN FUNDS (GROUP)** |**2025**
Fixed assets
Investments
Current assets
Current liabilities
**2024**
Fixed assets
Investments
Current assets
Current liabilities|Unrestricted
Designated
Restricted
Total
funds
funds
funds
funds
£
£
£
£
351,041
-
133,198
484,239
111,318
-
-
111,318
656,934
336,616
518,581
1,512,131
(672,951)
-
-
(672,951)
446,342
336,616
651,779
1,434,737
Unrestricted
Designated
Restricted
Total
funds
funds
funds
funds
£
£
£
£
169,940
134,292
304,232
113,278
-
113,278
719,956
360,055
340,249
1,420,260
(587,233)
-
(587,233)
415,941
360,055
474,541
1,250,537| |---|---| ## **ANALYSIS OF NET ASSETS BETWEEN FUNDS (CHARITY)** |**2025**
Fixed assets
Investments
Current assets
Current liabilities
**2024**
Fixed assets
Investments
Current assets
Current liabilities|Unrestricted
Designated
Restricted
Total
funds
funds
funds
funds
£
£
£
£
351,041
-
133,198
484,239
111,318
-
-
111,318
547,359
336,616
518,581
1,402,556
(589,152)
-
-
(589,152)
420,566
336,616
651,779
1,408,961
Unrestricted
Designated Restricted
Total
funds
funds
funds
funds
£
£
£
£
169,940
134,292
304,232
113,278
-
113,278
520,507
360,055
340,249
1,220,811
(453,726)
-
(453,726)
349,999
360,055
474,541
1,184,595| |---|---| continued… Page 23 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **21. MOVEMENT IN FUNDS (GROUP)** |**MOVEMENT IN FUNDS (GROUP)**|||||| |---|---|---|---|---|---| |||Net|Transfers||| |||movement|between||At| ||At 1.4.24|in funds|funds||31.3.25| ||£|£|£||£| |**Unrestricted funds**|||||| |General fund|415,941|10,401|20,000||446,342| |Designated funds:|||||| |Innovation fund|67,900|-|(57,800)||10,100| |Human resources and governance fund|22,155|(3,439)|(7,200)||11,516| |Audience development fund|50,000|-|(35,000)||15,000| |Capital project|200,000|-|100,000||300,000| |Captain Jack fund|20,000|-|(20,000)||-| ||360,055|(3,439)|(20,000)||336,616| ||775,996|6,962||-|782,958| |**Restricted funds**|||||| |Benefactors account|21,937|(19,824)||-|2,113| |Arts Council - Small Capital Grants|352,200|(3,104)||-|349,096| |New Work & Talent Fund|36,504|(7,806)||-|28,698| |Theatres Trust|1,595|(268)|||1,327| |McCain’s Project|15,000|9,834||-|24,834| |Culture Relief Fund|35|-||-|35| |Garfield Weston Foundation|8,833|(8,833)||-|-| |COAST|17,920|(17,728)||-|192| |Mein Trust|7,292|(1,047)||-|6,245| |Yorkshire in Business|475|-||-|475| |Dementia Friendly|894|(675)||-|219| |Eastfield PACT|4,371|(3,579)||-|792| |Alex Smith|3,000|(990)||-|2,010| |Town Centre Team|3,395|(3,200)||-|195| |Kirkby Foundation|(8,910)|7,632||-|(1,278)| |Dementia Friendly|10,000|6,385||-|16,385| |Bernard Sunley Foundation|-|50,000||-|50,000| |Capital Donations|-|10,016||-|10,016| |J Watkinson – World Book Day|-|255||-|255| |North Yorkshire County Council Capital|-|10,000||-|10,000| |P Johnson Electrical|-|170||-|170| |Garfield Weston Capital|-|150,000||-|150,000| ||474,541|177,238||-|651,779| |**TOTAL FUNDS**|1,250,537|184,200||-|1,434,737| continued… Page 24 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **21. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Designated funds:
Human resources and governance fund
**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Theatres Trust
McCain’s Project
Garfield Weston Foundation
COAST
Mein Trust
Dementia Friendly (NYC)
Eastfield PACT
Alex Smith
Town Centre Team
Kirkby Foundation
Dementia Friendly
Bernard Sunley Foundation
Capital Donations
J Watkinson – World Book Day
Mesh Fund
North Yorkshire County Council Capital
P Johnson Electrical
Garfield Weston Capital






**TOTAL FUNDS**
**Comparatives for movement in funds - group**
**Unrestricted funds**
General fund
Designated funds:
Innovation fund
Human resources and governance fund
Audience development fund
Captain Jack fund
Capital Project|Income
£
2,813,930
-
2,813,930
908
-
-
-
14,999
-
-
4,999
1,000
-
-
-
15,000
15,000
50,000
10,016
1,000
13,775
10,000
570
150,000






287,267
3,101,197
At 1.4.23
£
521,216
67,900
28,616
50,000
10,000
-
156,516
677,732|Expenditure
£
(2,801,570)
(3,439)
(2,805,009)
(20,732)
(3,104)
(7,806)
(268)
(5,165)
(8,833)
(17,728)
(6,046)
(1,675)
(3,579)
(990)
(3,200)
(7,368)
(8,615)
-
-
(745)
(13,775)
-
(400)
-
(110,029)
(2,915,038)
Net
movement
in funds
£
104,208
-
(5,944)
-
-
…………-
(5,944)

98,264|Gains and
losses
£
(1,959)
-
(1,959)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,959)
Transfers
between
funds
£
(209,483)
-
(517)
-
10,000
200,000
209,483
-|Movement
in funds
£
10,401
(3,439)|Movement
in funds
£
10,401
(3,439)|Movement
in funds
£
10,401
(3,439)| |---|---|---|---|---|---|---| ||||||
|
6,962
(19,824)
(3,104)
(7,806)
(268)
9,834
(8,833)
(17,728)
(1,047)
(675)
(3,579)
(990)
(3,200)
7,632
6,385
50,000
10,016
255
-
10,000
170
150,000
177,238
184,200
At
31.3.24
£
415,941
67,900
22,155
50,000
20,000
200,000
360,055
775,996| |||||||| |||||||| |||||||| ||
||||
|| Page 25 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **Comparatives for movement in funds – continued** |**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Theatres Trust
Phillip Carne Trust
McCain’s Project
Culture Relief Fund
Garfield Weston Foundation
COAST
Mein Trust
Early Years Project
Yorkshire in Business
Dementia Friendly (NYCC)
Eastfield PACT
Alex Smith
Town Centre Team
Kirby Foundation
Dementia Friendly
**TOTAL FUNDS**|20,935
355,304
7,277
1,595
(2,760)
23,787
885
8,833
135
-
31,518
475
869
-
-
-
-
-
448,853
1,126,585|1,002
(3,104)
29,227
-
2,760
(8,787)
(850)
-
17,785
7,292
(31,518)
-
25
4,371
3,000
3,395
(8,910)
10,000
25,688
123,952|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|21,937
352,200
36,504
1,595
-
15,000
35
8,833
17,920
7,292
-
475
894
4,371
3,000
3,395
(8,910)
10,000
474,541
1,250,537| |---|---|---|---|---| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Human resources and governance fund
**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Phillip Carne Trust
McCain’s Project
Culture Relief Fund
COAST
Mein Trust
Early Years Project
Dementia Friendly (NYCC)
Eastfield PACT
Equity Charitable Trust
Alex Smith
Town Centre Team
Kirkby Foundation
Dementia Friendly
**TOTAL FUNDS**|Income
£
2,659,469
-
2,659,469
1,002
-
31,381
7,000
15,000
1
45,000
8,000
-
1,000
4,683
3,783
3,000
37,000
-
10,000
166,850
2,826,319|Expenditure
£
(2,568,106)
(5,944)
(2,574,050)
-
(3,104)
(2,154)
(4,240)
(23,787)
(851)
(27,215)
(708)
(31,518)
(975)
(312)
(3,783)
-
(33,605)
(8,910)
-
(141,162)
(2,715,212)|Gains and
losses
£
12,845
-
12,845
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,845|Movement
in funds
£
104,208
(5,944)
98,264
1,002
(3,104)
29,227
2,760
(8,787)
(850)
17,785
7,292
(31,518)
25
4,371
-
3,000
3,395
(8,910)
10,000
25,688
123,952|Movement
in funds
£
104,208
(5,944)
98,264
1,002
(3,104)
29,227
2,760
(8,787)
(850)
17,785
7,292
(31,518)
25
4,371
-
3,000
3,395
(8,910)
10,000
25,688
123,952| |---|---|---|---|---|---| ||||||
98,264
1,002
(3,104)
29,227
2,760
(8,787)
(850)
17,785
7,292
(31,518)
25
4,371
-
3,000
3,395
(8,910)
10,000
25,688
123,952| ||||||| ||||||| Page 26 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **21. MOVEMENT IN FUNDS (CHARITY)** |**MOVEMENT IN FUNDS (CHARITY)**|||||| |---|---|---|---|---|---| |||Net|Transfers||| |||movement|between||At| ||At 1.4.24|in funds|funds||31.3.25| ||£|£|£||£| |**Unrestricted funds**|||||| |General fund|349,999|50,567|20,000||420,566| |Designated funds:|||||| |Innovation fund|67,900|-|(57,800)||10,100| |Human resources and governance fund|22,155|(3,439)|(7,200)||11,516| |Audience development fund|50,000|-|(35,000)||15,000| |Capital project|200,000|-|100,000||300,000| |Captain Jack fund|20,000|-|(20,000)||-| ||360,055|(3,439)|(20,000)||336,616| ||710,054|47,128||-|757,182| |**Restricted funds**|||||| |Benefactors account|21,937|(19,824)||-|2,113| |Arts Council - Small Capital Grants|352,200|(3,104)||-|349,096| |New Work & Talent Fund|36,504|(7,806)||-|28,698| |Theatres Trust|1,595|(268)|||1,327| |McCain’s Project|15,000|9,834||-|24,834| |Culture Relief Fund|35|-||-|35| |Garfield Weston Foundation|8,833|(8,833)||-|-| |COAST|17,920|(17,728)||-|192| |Mein Trust|7,292|(1,047)||-|6,245| |Yorkshire in Business|475|-||-|475| |Dementia Friendly|894|(675)||-|219| |Eastfield PACT|4,371|(3,579)||-|792| |Alex Smith|3,000|(990)||-|2,010| |Town Centre Team|3,395|(3,200)||-|195| |Kirkby Foundation|(8,910)|7,632||-|(1,278)| |Dementia Friendly|10,000|6,385||-|16,385| |Bernard Sunley Foundation|-|50,000||-|50,000| |Capital Donations|-|10,016||-|10,016| |J Watkinson – World Book Day|-|255||-|255| |North Yorkshire County Council Capital|-|10,000||-|10,000| |P Johnson Electrical|-|170||-|170| |Garfield Weston Capital|-|150,000||-|150,000| ||474,541|177,238||-|651,779| |**TOTAL FUNDS**|1,184,595|224,366||-|1,408,961| Page 27 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **21. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Designated funds:
Human resources and governance fund
**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Theatres Trust
McCain’s Project
Garfield Weston Foundation
COAST
Mein Trust
Dementia Friendly (NYC)
Eastfield PACT
Alex Smith
Town Centre Team
Kirkby Foundation
Dementia Friendly
Bernard Sunley Foundation
Capital Donations
J Watkinson – World Book Day
Mesh Fund
North Yorkshire County Council Capital
P Johnson Electrical
Garfield Weston Capital
**TOTAL FUNDS**
**Comparatives for movement in funds - Charity**
**Unrestricted funds**
General fund
Designated funds:
Innovation fund
Human resources and governance fund
Audience development fund
Captain Jack fund
Capital Project|Income
£
2,853,994
-
2,853,994
908
-
-
-
14,999
-
-
4,999
1,000
-
-
-
15,000
15,000
50,000
10,016
1,000
13,775
10,000
570
150,000
287,267
3,141,261
At 1.4.23
£
445,951
67,900
28,616
50,000
10,000
-
156,516
602,467|Expenditure
£
(2,801,468)
(3,439)
(2,804,907)
(20,732)
(3,104)
(7,806)
(268)
(5,165)
(8,833)
(17,728)
(6,046)
(1,675)
(3,579)
(990)
(3,200)
(7,368)
(8,615)
-
-
(745)
(13,775)
-
(400)
-
(110,029)
(2,914,936)
Net
movement
in funds
£
113,531
-
(5,944)
-
-
…………-
(5,944)
107,587|Gains and
losses
£
(1,959)
-
(1,959)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,959)
Transfers
between
funds
£
(209,483)
-
(517)
-
10,000
200,000
209,483
-|Movement
in funds
£
50,567
(3,439)
47,128
(19,824)
(3,104)
(7,806)
(268)
9,834
(8,833)
(17,728)
(1,047)
(675)
(3,579)
(990)
(3,200)
7,632
6,385
50,000
10,016
255
-
10,000
170
150,000
177,238
224,366
At
31.3.24
£
349,999
67,900
22,155
50,000
20,000
200,000
360,055
710,054|Movement
in funds
£
50,567
(3,439)
47,128
(19,824)
(3,104)
(7,806)
(268)
9,834
(8,833)
(17,728)
(1,047)
(675)
(3,579)
(990)
(3,200)
7,632
6,385
50,000
10,016
255
-
10,000
170
150,000
177,238
224,366
At
31.3.24
£
349,999
67,900
22,155
50,000
20,000
200,000
360,055
710,054| |---|---|---|---|---|---| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| Page 28 **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **Comparatives for movement in funds – continued** |**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Theatres Trust
Phillip Carne Trust
McCain’s Project
Culture Relief Fund
Garfield Weston Foundation
COAST
Mein Trust
Early Years Project
Yorkshire in Business
Dementia Friendly (NYCC)
Eastfield PACT
Alex Smith
Town Centre Team
Kirby Foundation
Dementia Friendly
**TOTAL FUNDS**|20,935
355,304
7,277
1,595
(2,760)
23,787
885
8,833
135
-
31,518
475
869
-
-
-
-
-
448,853
1,051,320|1,002
(3,104)
29,227
-
2,760
(8,787)
(850)
-
17,785
7,292
(31,518)
-
25
4,371
3,000
3,395
(8,910)
10,000
25,688
133,275|-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|21,937
352,200
36,504
1,595
-
15,000
35
8,833
17,920
7,292
-
475
894
4,371
3,000
3,395
(8,910)
10,000
474,541
1,184,595| |---|---|---|---|---| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Human resources and governance fund
**Restricted funds**
Benefactors account
Arts Council - Small Capital Grants
New Work & Talent Fund
Phillip Carne Trust
McCain’s Project
Culture Relief Fund
COAST
Mein Trust
Early Years Project
Dementia Friendly (NYCC)
Eastfield PACT
Equity Charitable Trust
Alex Smith
Town Centre Team
Kirkby Foundation
Dementia Friendly
**TOTAL FUNDS**|Income
£
2,668,695
-
2,668,695
1,002
-
31,381
7,000
15,000
1
45,000
8,000
-
1,000
4,683
3,783
3,000
37,000
-
10,000
166,850
2,835,545|Expenditure
£
(2,568,009)
(5,944)
(2,573,953)
-
(3,104)
(2,154)
(4,240)
(23,787)
(851)
(27,215)
(708)
(31,518)
(975)
(312)
(3,783)
-
(33,605)
(8,910)
-
(141,162)
(2,715,115)|Gains and
losses
£
12,845
-
12,845
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,845|Movement
in funds
£
113,531
(5,944)
107,587
1,002
(3,104)
29,227
2,760
(8,787)
(850)
17,785
7,292
(31,518)
25
4,371
-
3,000
3,395
(8,910)
10,000
25,688
133,275| |---|---|---|---|---| |||||| |||||| Page 29 ## **SCARBOROUGH THEATRE TRUST LIMITED TRADING AS STEPHEN JOSEPH THEATRE** ## **NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued For the Year Ended 31 March 2025** ## **22. RELATED PARTY DISCLOSURES** One director also sits on the Board of Scarborough Theatre Development Trust, who own the freehold property from which the group operates. During the year, rent of £27,500 (2024: £27,500) was paid to Scarborough Theatre Development Trust under the terms of the lease. A loan exists between the two companies as shown in note 17 to the accounts. ## **23. ULTIMATE CONTROLLING PARTY** The Charity is under the control of the Board of Trustees. Page 30