## **Trustees’ Annual Report for the period**
**From 1/8/24 Period start date To 31/7/25 Period end date**
## **Charity name: Studio Theatre**
## **Charity registration number: 253957**
## **Objectives and Activities**
||SORP reference||
|---|---|---|
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|**To prepare, maintain, improve and**
**advance the education of the public by**
**their involvement in the production of**
**plays and other arts such as mime,**
**dance, singing and music.**|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|**Production of at least 5 plays per year,**
**with a minimum of 5 performances each**
**involving an average of 50 volunteers.**
**Hosting of activities of local youth and**
**arts groups.**
**Support of the local Fire Brigade events.**|
|Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|**All trustees have been made aware of**
**the guidance and have all been asked to**
**read the published guidance.**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
||SORP reference||
|---|---|---|
|Policy on grant making|Para 1.38|**Studio Theatre does not make grants.**|
|Policy on social investment
including program related
investment|Para 1.38|**Studio Theatre did not make any**
**investments for this accounting period.**|
|Contribution made by
volunteers|Para 1.38|**All positions within Studio Theatre are**
**voluntary as we have no paid staff. All**
**activities performed by the theatre are**
**therefore subject to a contribution of**
**time made by the volunteers.**|
|Other||**Nil**|
## **Achievements and Performance**
||SORP reference||
|---|---|---|
|Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|**Five main play production events:**
• **Night Must Fall (Emlyn Williams)**
• **Little Women (Louisa May Alcott)**
• **Be My Baby (Amanda Whittington)**
• **Bram Stoker’s Dracula (adaptation**
**by Richard M Sharpe)**
• **Noises Off (Michael Frayn)**
**Hosting of External Lettings – Total of**
**50 events (including local Youth Groups**
**and Dance Groups)**
**10 monthly C@ST (Creative @ Studio**
**Theatre) events consisting of free**
**creative and educational activities for**
**the benefit of members and the public.**|
## **Additional information (optional)** You may choose to include further statements where relevant about:
|Achievements against
objectives set|Para 1.41|**Nil**|
|---|---|---|
|Performance of fundraising
activities against objectives
set|Para 1.41|**Nil**|
|Investment performance
against objectives|Para 1.41|**Nil**|
|Other||**Nil**|
## **Financial Review**
|**Financial Review**|||
|---|---|---|
|Review of the charity’s
financial position at the end
of the period|Para 1.21|**We are in a strong financial position and**
**made a profit for the financial year.**|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|**The current policy is that sufficient cash**
**is held in the bank account to cover 6**
**months of normal operations and costs.**|
|Amount of reserves held|Para 1.22|**£35,000**|
|Reasons for holding zero
reserves|Para 1.22|**N/A**|
|Details of fund materially in
deficit|Para 1.24|**N/A**|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**None**|
|**Additional information (optional)**
You may choose to include further statements|**Additional information (optional)**
You may choose to include further statements|where relevant about:|
|---|---|---|
|The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|**Staged productions throughout the year**
**– normally 5 to 6 main shows**
**Club Membership Fees**
**Venue hire**
**Donations**
**Fundraising**
**Bequests**|
|Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|**Studio Theatre currently does not invest**
**funds.**|
|A description of the principal
risks facing the charity|Para 1.46|**None**|
|Other||**None**|
## **Structure, Governance and Management**
|Description of charity’s
trusts:|||
|---|---|---|
|Type of governing document
(trust deed, royal charter)|Para 1.25|**Constitution**|
|How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**Club Status**|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|**Elected by members at an Annual**
**General Meeting**|
**Additional information (optional)** You may choose to include further statements where relevant about:
**Nil** Policies and procedures adopted for the induction Para 1.51 and training of trustees **Nil** The charity’s organisational structure and any wider Para 1.51 network with which the charity works **Nil** Relationship with any related Para 1.51 parties **Nil** Other
## **Reference and Administrative details**
|Charity name|Studio Theatre|
|---|---|
|Other name the charity uses||
|Registered charity number|253957|
|Charity’s principal address|Studio Theatre
Ashley Road
Salisbury
Wiltshire
SP4 7TN|
|||
## **Names of the charity trustees who manage the charity**
|1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**|
|---|---|---|---|---|
||Anthonyvon Roretz|Chair||Membership|
||Joanna Daniel|Secretary|22/10/24 – 31/7/25|Membership|
||Hugh Abel|||Membership|
||Rowena Greenaway|||Membership|
||Brian Waddingham|||Membership|
||Alistair Faulkner|||Membership|
||Peter Mitchell|||Membership|
||Jackie Pilkington|||Membership|
||Lorna Matthews-Keel|||Membership|
||Tamsin Jacson||22/10/24 – 31/7/25|Membership|
||Paul Chalmers||22/10/24 – 31/7/25|Membership|
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
||||||
– Corporate trustees names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
|Description of the assets
held in this capacity|None|
|---|---|
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|None|
|Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets|None|
## **Additional information (optional)**
## **Names and addresses of advisers (Optional information)**
|**Type of**
**adviser**
**Name**
**Address**|**Type of**
**adviser**
**Name**
**Address**|**Type of**
**adviser**
**Name**
**Address**|
|---|---|---|
||||
||||
||||
||||
|**Name of chief executive or names of senior staff members (Optional information)**|||
||||
## **Exemptions from disclosure**
Reason for non-disclosure of key personnel details
**None**
## **Other optional information**
**None**
|Signature(s)||||\||
|---|---|---|---|---|---|
|Fullname(s)
Position(egSecretary,
Chair, etc)|(|Nvrll[:.-^tf('Ft$.rG*||'a^ie
AA.+\$ 6€f.-€frArft-t/||
|Date||i1i,t|LcTb|||
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **Charity registration number 253957 (England and Wales)**
## **STUDIO THEATRE**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 JULY 2025**
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** H Abel R J Greenaway B Waddingham A R Faulkner P J F Mitchell A J Pilkington L F Matthews-Keel J Daniel (Appointed 22 October 2024) K T Jacson (Appointed 22 October 2024) P R Chalmers (Appointed 22 October 2024) A von Roretz **Charity number (England and Wales)** 253957 **Independent examiner** Shirley Hollis 35 Chequers Court Brown Street Salisbury Wiltshire United Kingdom SP1 2AS
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 12|
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 JULY 2025**_
The trustees present their annual report and financial statements for the year ended 31 July 2025.
## **Basis of preparation**
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
## **Objectives and activities**
The purposes of the charity are to prepare, maintain, improve and advance the education of the public by their involvement in the production of plays and other arts such as mime, dance, singing and music.
A summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts:
- Production of at least 5 plays per year, with a minimum of 5 performances each involving an average of 50 volunteers
- Hosting of activities of local youth and arts groups
- Support of the local Fire Brigade events
## _Public benefit_
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
- Five main play production events – 37 performance nights, involving 50+ volunteers per night
- Night Must Fall (Emlyn Williams) [96 roles, 850 audience]
- Little Women (Louisa May Alcott) [93 roles, 630 audience]
- Be My Baby (Amanda Whittington) [71 roles, 391 audience]
- Bram Stoker’s Dracula (adaptation by Richard M Sharpe) [71 roles, 437 audience]
- Noises Off (Michael Frayen) [82 roles, 540 audience]
- Hosting of External Lettings – 50 events (all-day/day/evening) [Approximately 38 members, 1140 nonmember participations]
- Rehearsals events – 125 events [approximately 1148 individual]
- Audition events – 14 [approximately 345 individual participations]
- Member and invited-guest Social Events (C@ST) – 10 evenings [approximately 230 individual participations]
- Total individual participations in Studio theatre events during this reporting period is 6537 (+/- 10%). This includes Members and Guests actively carrying out a role, or guest-involvement or ticket purchase.
## **Financial review**
## _Reserves policy_
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
## **Structure, governance and management**
- 1 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
The trustees who served during the year and up to the date of signature of the financial statements were: H Abel
R J Greenaway B Waddingham A R Faulkner P J F Mitchell A J Pilkington L F Matthews-Keel J Daniel (Appointed 22 October 2024) K T Jacson (Appointed 22 October 2024) P R Chalmers (Appointed 22 October 2024) A von Roretz
## _Recruitment and appointment of trustees_
Trustees are appointed to an Executive Committee to consist of up to 13 Trustees The Executive Committee will consist of 3 Officers - Chair, Treasurer, and Secretary The Executive Committee may consist of up to 10 other members All members are appointed and can serve up to a 2-year term Trustees may stand for multiple sequential terms
Trustees are elected annually by (qualifying) Studio Theatre Members during the Annual General Meeting held during the months of September to November
None of the trustees has any financial beneficial interest in the company. All trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
## **Payment policy for trade creditors**
The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).
The company's current policy concerning the payment of trade creditors is to ensure trade creditors, especially local suppliers, are paid promptly, and ahead of their terms. There are very rarely any outstanding creditors.
- settle the terms of payment with suppliers when agreeing the terms of each transaction;
- ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
- pay in accordance with the company's contractual and other legal obligations.
Trade creditors of the company at the year end were equivalent to zero day's purchases.
## _Organisational structure_
Studio Theatre is a wholly Voluntary Membership Society (approximately 175 members at the end of this reporting period).
Studio Theatre is Governed by a Committee of up to 13 Trustees – Chair, Treasurer, Secretary, and (up to) 10 members.
The trustees' report was approved by the Board of Trustees.
A von Roretz
## **Trustee**
28 February 2026
- 2 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STUDIO THEATRE**
I report to the trustees on my examination of the financial statements of Studio Theatre (the charity) for the year ended 31 July 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 and the Charities Act (Northern Ireland) 2008. You are satisfied that the financial statements of the charity are not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 and section 145 of the Charities Act 2011. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008 and the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 63 of the Charities Act 2008 and section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of the Charities Act (Northern Ireland) 2008 and the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Shirley Hollis**
35 Chequers Court Brown Street Salisbury Wiltshire SP1 2AS United Kingdom 28 February 2026
- 3 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 JULY 2025**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
2,592
-
Charitable activities
**3**
64,210
-
**Total income**
66,802
-
**Expenditure on:**
Charitable activities
**4**
41,259
-
**Total expenditure**
41,259
-
**Net income and movement in**
**funds**
25,543
-
**Reconciliation of funds:**
Fund balances at 1 August
2024
110,492
671,973
**Fund balances at 31 July**
**2025**
136,035
671,973|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
2,592
4,245
-
64,210
65,315
-
66,802
69,560
-
41,259
56,387
-
41,259
56,387
-
25,543
13,173
-
782,465
97,319
671,973
808,008
110,492
671,973|**Total**
**2024**
**£**
4,245
65,315|
|---|---|---|
|||69,560
56,387|
|||56,387|
|||13,173
769,292|
|||782,465|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 4 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **BALANCE SHEET**
## _**AS AT 31 JULY 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**13**
**Net assets**
**The funds of the charity**
Restricted income funds
**14**
Unrestricted funds
**15**|**2025**
**£**
5,691
83,393
89,084
(2,949)|**£**
726,873
86,135
813,008
(5,000)
808,008
671,973
136,035
808,008|**2024**
**£**
-
75,703
75,703
-|**£**
711,762
75,703
787,465
(5,000)
782,465
671,973
110,492
782,465|
|---|---|---|---|---|
The financial statements were approved by the trustees on 28 February 2026
A von Roretz **Trustee**
- 5 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **1 Accounting policies**
## **Charity information**
Studio Theatre is an unincorporated charity.
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings No depreciation Fixtures and fittings No depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.8 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 7 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **2 Income from donations and legacies**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Donations and gifts|2,561|4,245|
|Legacies|31|-|
||2,592|4,245|
## **3 Income from charitable activities**
||**Income**|**Income**|
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Production sales|33,865|31,773|
|Fundraising revenue|1,367|2,119|
|Bar revenue|19,382|16,892|
|Interest income|1,286|1,247|
|Donations|-|8,414|
|External hire|3,185|-|
|Memberships|5,125|4,870|
||64,210|65,315|
|**Analysis by fund**|||
|Unrestricted funds|64,210|65,315|
- 8 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **4 Expenditure on charitable activities**
|||**Admin**|**Admin**|
|---|---|---|---|
|||**expenses**|**expenses**|
|||**2025**|**2024**|
|||**£**|**£**|
||**Direct costs**|||
||Cost of sales|14,960|17,049|
||Advertising and marketing|263|144|
||Audit and accountancy fees|1,908|888|
||Bank charges|75|79|
||Cleaning|1,158|1,834|
||Consultancy|420|420|
||Insurance|3,896|3,538|
||General expenses|704|68|
||Light, heat and power|9,450|10,036|
||Loan interest payable|-|1,100|
||Printing, postage and stationery|288|212|
||Repairs and maintenance|6,780|19,788|
||Subscriptions|484|330|
||Staff training|200|315|
||Telephone and internet|673|586|
|||41,259|56,387|
||**Analysis by fund**|||
||Unrestricted funds|41,259|56,387|
|**5**|**Net movement in funds**|**2025**|**2024**|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|-|-|
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **7 Employees**
The average monthly number of employees during the year was:
||**2025**|**2024**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 9 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Tangible fixed assets**
|**9**
**Tangible fixed assets**||
|---|---|
|**Freehold land**
**and buildings**
**Fixtures and**
**fittings**
**£**
**£**
**Cost**
At 1 August 2024
671,973
39,788
Additions
-
15,112
At 31 July 2025
671,973
54,900
**Carrying amount**
At 31 July 2025
671,973
54,900
At 31 July 2024
671,974
39,788
**10**
**Debtors**
**2025**
**Amounts falling due within one year:**
**£**
Trade debtors
3,127
Prepayments and accrued income
2,564
5,691
**11**
**Loans and overdrafts**
**2025**
**£**
Other loans
5,000
Payable after one year
5,000
**12**
**Creditors: amounts falling due within one year**
**2025**
**£**
Other creditors
209
Accruals and deferred income
2,740
2,949|**Total**
**£**
711,761
15,112|
||726,873|
||726,873|
||711,762|
||**2024**
**£**
-
-|
||-|
||**2024**
**£**
5,000|
||5,000|
||**2024**
**£**
-
-|
||-|
- 10 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **13 Creditors: amounts falling due after more than one year**
|**Creditors: amounts falling due after more than**|**one year**||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Borrowings|5,000|5,000|
## **14 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 August**|**At 31 July**|
|---|---|---|
||**2024**|**2025**|
||**£**|**£**|
|General restricted fund|671,973|671,973|
|**Previous year:**|**At 1 August**|**At 31 July**|
||**2023**|**2024**|
||**£**|**£**|
|General restricted fund|671,973|671,973|
## **15 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 August**|**Incoming**|**Resources**|**At 31 July**|
|---|---|---|---|---|
||**2024**|**resources**|**expended**|**2025**|
||**£**|**£**|**£**|**£**|
|General funds|110,492|66,802|(41,259)|136,035|
|**Previous year:**|**At 1 August**|**Incoming**|**Resources**|**At 31 July**|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|General funds|97,319|69,560|(56,387)|110,492|
- 11 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 JULY 2025**_
## **16 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 July 2025:**
Tangible assets
54,900
671,973
Current assets/(liabilities)
86,135
-
Long term liabilities
(5,000)
-
136,035
671,973
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 July 2024:**
Tangible assets
39,789
671,973
Current assets/(liabilities)
75,703
-
Long term liabilities
(5,000)
-
110,492
671,973|**Total**
**2025**
**£**
726,873
86,135
(5,000)
808,008
**Total**
**2024**
**£**
711,762
75,703
(5,000)
782,465|
|---|---|
## **17 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
- 12 -
Docusign Envelope ID: ACD5CCBC-E518-87C8-81C8-7955F782E0E3
## **STUDIO THEATRE**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STUDIO THEATRE**
I report to the trustees on my examination of the financial statements of Studio Theatre (the charity) for the year ended 31 July 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 and the Charities Act (Northern Ireland) 2008. You are satisfied that the financial statements of the charity are not required by charity law to be audited and have chosen instead to have an independent examination.
I report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 and section 145 of the Charities Act 2011. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008 and the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 63 of the Charities Act 2008 and section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of the Charities Act (Northern Ireland) 2008 and the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Shirley Hollis**
35 Chequers Court Brown Street Salisbury Wiltshire SP1 2AS United Kingdom 28 February 2026
- 3 -