ROYALTY THEATRE SUNDERLAND (Charity Number 258246) ANNUAL STATEMENT OF ACCOU]YTS YEAR ENDED 31 MARCH 2025
ROYALTY THEATRE SUNDERLAND ANNUAL STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Contents Plges Tiwstees. repoTI Independent exaininer's report Sialement of financial activities Ba19n¢e sheet Notes lo tlie annual statement of accounts 8-14 The followin% poge does not form part of the statutory accounts Bar profit and loss aceount 15
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 3J MARCH 2025 Reference and Administration Detalls Patiojt: D. Parfitt BAFTA and Oscar Wimiing Film Producer Triislees: P. Reynolds M. Waine C. Kilvington Chair.. A. Barella Ai¥istic Dli'¢crtsr: None at present SecretBJy", M. Waine Treasiiwer: C. R. J. Cl)apman. FCA ReglsleredAddi'¢ss & Plftce of Biisines.s: 25 Tlie Royalty Sundci'l8nd SB2 7PP Baiikei's: Royal Bai)k of Scollgnd plc l Rcdl)cuglis Aveniie Edinbur81) EH12 9JN Solicitois: Pet¢T Dunn & Co 20 Athenaeuin Str¢¢t Siinderland SRI IDH liidepeiideiit Examiiier: A. M. Henshaw FCCA Torgerseiis Cliartered Accountants East Suile, Ground Floor Avalon House Si Catherine's Court Sunderland SR5 3XJ Stutiis: The Charity is registered witli the Charity Commissioners as number 258246. Page I
ROYALTY THEATRE SUNDERLAND TRUSTEES? REPORT FOR THE YEAR ENDED 31 MARCH 2025 Structure, Governanee And Management Constliuiioii: The Koyalty Theatre Sunderland ("Ihe Charity,) is incorporated linder a Constitution wl)icli sets oiit the objectives and purposes of the Cliarily. The accounts coiiiply witli eiirrent statutory reqiiireiiients and tlie rcquireinenls of tli¢ Constitttlion. The ultimate responsibility for the manageinenl is vested in Ilie Truste¢s who delegate the management to the Executive Cominill¢¢, Ti'uslees: The Constitution provides for a maximuin of foiir Trustees, such Trust¢es lo be noininaled by ll resolution of members l an ArUal OT Special General Meeting of tlie Charity. Trust¢es hold offLce iinlil death, resignation, or reinoval froin office. Execiirfve Coifriiiiittee.. The Executive Comiiiitlee. to wliom tlie Trustees delegate tlie day to day managetnenl of Ilie Charity. comprises tlie Cliainnan, Vice Cliainnan, SecTetary, Treasurer, Artistic Director, Iliree 'l'nistees, and s¢v¢n oil)er members all of whoiii. willi the exception of Ilic Tte¢s, are elected annually at tli¢ Annual General Meeting. The Executive Coinmittee meets once a month Il)rougl)oul the year lo review, monitor and discuss Ihc affaii's of the Cliarily. Sub-coinmittees deal willi certain aspects such as play s¢l¢¢tion, casting, production. and maTk¢ting reporting to Ilie Exccutive Coiiiinittee. Thc Ti'uste¢s woiild like to lake this opportunity lo thank all tli¢ ineinbers of the Execulivc Committee and the Sub Comniittees for their cfforts durin¥ the year. Relftled Purlies: There are no fonnal links between the Cliarity and any other charities or organisations. However, the Cl)arity does donate the lickets for th¢ first night of each inain theatre production (except ihe pan¢oiMim¢) to soine 9 or so cliarities willi local represenlalion. StaleiNeiits of n'iistee's Respoiiylblllilesfor ilie A¢¢oiiiits: The Cliarities A¢1 201 I r¢quire5 tlie Trustees to keep proper books of aecoiinl with respect lo Ilie affairs of tlie Charity, and (o prepare slaten1enls of account for eacli accounting period consisting of an incoine and expenditure account and ll balance slieel. Tlie Trustees are also r¢sponsible for safeguarding Ilic Charity's assets, aDd hence for taking reasonable steps for the prevention and detection of error, fraud and oilier irregularities. In preparing tli¢ accounts tlie Trustees are expected to: Sclccl suitabl¢ accountiiig policies and &pply them eonsi$tently' Make.judgeinents and estimatcs Iliat are reasonable and prudent; Follow the recommendations of th¢ Charity Commission and of the accoiinting profession with regard to fom and content of Il)e accounts oi. lo disclose and explain any departures therefrom: and Prepare Ilie accoiints on the going concern basis unless il is inappropriate to assume Ihal Ihe charity will be able lo continue lo meet 118 ubjeclives. Page 2
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Objectives and Activities The objectives of the Charity are lo promole the art ol thania and to develop the public Appreciation therein, and towards tliese piirposes, lo accept subscriptions, donalions. and gifts of all kinds. So as to achieve its objectives the Cl)arity. tlirougli its Members, pcrfonns several amateur drama productions durin the year eitlier in th¢ niain th¢atre (capacity 216} or the studio theatre (capacity 60). Income arises from niembership subscriptions, licket sales, sponsorsliip. donations. external hires of both the main theatre and the sMdio theatre, raffles, entertaininenl and social evenings, sales of coffee. ice cream5. sweets and from bar profits. The Charity continually seeks sponsors for its productions and oppormnities for the external hire of both theAtres. Aehievement and Performance This Season. wewe successfully inodernised the theatre by updating Inany aspects, signiticantly improving a¢ce55ibility for aiidieiices with additional needs. Expandin8 our technical capabilities hus been o major a¢hi¢v¢ment, offering & widcr raiigc of lighting and audio options. This opens up new revenue streams Ilirough incoming hires and traiiiing opportunities. Our volunteers continue to strive towards improving the Ihealre experience and all do this while being conscious of the positlve impacts on our audiences, whilst concentrating on keeping Gost minimal. We Continue to advertise the theatre lo new audiences and potential new members. This is done Ihroughoui the coinmunity and in rollaborution will) oilier draiiia groups in the wider Sunderland area. We are committed to Continuous learning and collabvralion lo eiisur¢ Ilic on8oin8 su¢cess of The Royally Theatre. Publlc Benefit Statement The Irusi¢es have had regard to the Charity Conimission guidaii¢e on their legal diity on public benefit, and are salisficd Ihal tlic cliarity delivers public benefit. and duc regard is paid to the guidance on publi¢ ben¢fit wli¢n d¢¢iding on what new projects the ¢h&rity should undcrtake. Financlal Rtvleiv Resei'ves: The Financial resiilts for the year to 31, March 2025 show a profit on unrestricted reserves of £1,675 {2024.. Profit £3,807} Of this profit £ 7,349 (2024: £7,671) related to bar activities, meai)ing that the Theatre losl £5,674 (2024,. £3,864) Diiring the year essential repairs were caiTied oiil to the toilets iii the foyer whicli a¢coiinted for tlie loss above. Page 3
ROYALTY THEATRE SUNDERLAND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 In the corniiig financial year, we are refurbishing the baT top at a cost of around £ 1000 and installing new hand 17ils on the sleps inlo the auditorium at a cost of around £500. We had intend¢d to install a riser lift into the foyer, but the costs of this w¢r¢ prohibitive. Our inteiition during the closed season in August is to redecorate the public areas of the theatre and carry Oiit any repair work needed. Wc will also be iipdating some of oiii. older tccli eqiiipment. As always we try to maintaiii the theatre in good ord¢r. We hope that oiir audieiices are iit last start111g to increase and Iiad a sell out for our Musical 'The Wedding Singer" on the last night in June 2025. At the end of the financial year the bank reserves were £106,815 (2024 £98,426) and total r¢serves to cany fonvard wcrc £310,314 (2024 £308,639) We hope to use some of tliese reseNes to iipgrade the décor and tecli equipment. The Royalty Th¢atr¢ reserves policy is well Inet with rcscrves. Rlsk Asse$5111eiit.' The Tru51ees assess Ili¢ in8jor risks to whicli the Charity 18 exposed on a Continual basis ELnd are satisfied that the administrative, inv¢stiii¢nt and financial procedures which are in plthce miniittise the risk of any loss to the Charity. Signed on behalf of the Trustees M. Wain¢ Seeretary Dale.. Page 4
INDEPENDENT EXAMINER'S RFPORT TO THE TRUSTEES OF ROYALTY THEATRE SUNDERLAND I report lo the trustees on my examination of the financial stateinents of The Royalty Theati'e Sunderland ('the Charity,) for the year ended 31 March 2025. Responsibilities and basls of report As the trustees of tlie Cliarity, you are responsible for the preparation of tlie financial statenient$ in accordance with the requireinents of the Charities Act 2011 ('Ihe Act.). I report in Tespect of my examination of the chariiy's financial statements catried out under section 145 of the 2011 Act and ii) carying out Iny exan1ination I have followed all tlie applicable Directions given by the Charity Commission uiider section 145(5)(b) of Il)e Act. Independent exAmincr's stAtement I liave completed my aMination. I contirm that no inalerial matters have come to my &tt¢ntion in connection with the examination giving me cause to believe ihat in any iiiateriAI respect: accounting records were not kept in respect of th¢ charity as required by seclion 130 of the Act: or 2. the financial slaleinents do not accord wilh Ih05e records. or 3. the financial slaleiiienl8 do Trol coinply with the applicable requireinenls concerning 11)e fonn and coiitent of accounts set out iii Il)e Charities (Accounts and Reports) Regulations 2008 oih¢r than 8ny requirement iliat the accounts givc a 'lrue and fair, vicw which is not a matter considercd as parl of an indcpendent exaiiiination. have no conccrns aiid have con1c aeros8 nu othcr maller$ iii connection with tlie examination to wliicli attention should b¢ drawn in this report in order to enablc a propel. under51andiiig of Ilie accounts to be reached. A. M. l.lenshAw FCCA Torgersens Chartered Accountants EASt Suito, Ground Floor AvAlon House St Catherine's Court Sunderland SR5 3XJ Date: la1g/zg Page 5
ROYALTY THEATRE SUNDERLAIYD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Total Funds 2025 Total "unds 2024 Unrestricted Funds Restrlcted Funds Notes INCOME Don741ions. legacies and similAr incoming resources 343 343 6781 Income froin cliarilable activities Tlieatr¢ receipts Bar sales Otlier income 47,711 20.516 1,875 47.711 20,516 1,875 37,865 18.988 5,121 Incoiiie from investinenis 1,391 1,391 1,457 TOTAL INCOME LL36 EXPENDITURE Expeiiditure 01) charitable activilies Theatre running costs Cost of rnnning bar Odicr expenditure 54,647 13,167 2,347 54,647 13.167 2.347 51,751 11,317 3337 TOTAL EXPENDITURE Net Incomel(expendlture) 1,675 1,675 3,807 Transfer between ndS Net movement In funds 1675 Funds brought fonvgrd at l April 2024 270,973 37,666 308,639 304,832 FUNDS CARRIED FORWARD AT 31 MARCH 2025 T1 notes Set out on pages 8 to 14 forn) pBrt of Iliese accotsnis P¥Jg¢ 6
ROYALTY THEATRE SUNDERLAND BALANCE SHEET AT 31 MARCH 2025 Notes 2025 2024 FIXED ASSETS Tangible assets 12 199,853 206,460 CURRENT ASSETS Stock Debtors and prepayments Casli at bank Cash in hand 1,930 4,910 106,815 344 1.275 4.786 98,426 280 104 767 13 14 15 CURRENT LIABILITIES: amounts fAlllng due wlthin one yellr Creditors and accruals 16 NET CURRENT ASSETS TOTAL ASSETS FUNDS 17 Restricted Unrestricted dcsi&mated general 37,666 37,666 199,853 206,460 270 The accoiints were ttpproved b the Trustees on &. t .2S and sign¢d on their ¢half Chair A. Barella Secretary M. Waine Treasurer C. R. J. Chapman Th¢ notes set out on pages 8 to 14 fonn of the¥0 accouThls Pag¢ 7
ROYALTY THEATRE SUNDERLAND NOTES FORMING PARI. Oli 'l'HE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis ol'Pi-eparalion These accounls have been pr¢par¢d iind¢r tlie liistorical cost convention and in accordanc¢ with.. Ih¢ Stateinenl of Recoinmended Practice.. Accounting aiid Reporting by Cliarilies preparing their accounls in accordai)ce with the Fiiian¢ial Reporting Standards applicable in tlie UK and Republic of Ireland (FRS 102) effective l January 2015 (SORP 2015) tlie Financial Reporting Standard applicable in tlie UK and R¢publi¢ of Ir¢laiid (FRS 102) tlie Cliarilies Act 2011. Tl)e accounts are prepared in sterling. wliich is the functional currency of the charity. Monelary gmounts in these accounts are rounded to th¢ nearest £. The principal accounting policies adopted are.. Accountlng for Income Cosh donations, legacies. income from production8 in tenns of ticket sales. bar incoine, memb¢rship subscriptions and other iiicome are treated as income in the year in wliich Ilicy are received. In¢oxn¢ tsom the sale of coffees, ice crcaiiis, sweets, raffles and Il)eatre and sttidio hire are iiicliided in the stat¢inenl of finoncilll acLivities. net of directly related expendilure. in ilie yeAr to wliicli they relate. Income from Investmenls Bunk iiileresi is included in tlie Statement of Financial Activities on Ilie accrnal's basis, b) Expendlture All rcvcniic cxpcndimre is accountcd for wl)cn iiiciirred. Ixpendittire i'elalingy lo specialist activities or proj¢cts is sliown uiidcr Charitabl¢ Activities. Expcndilure rclating to thc gcncral ninning of the charity and to adhere to laws and regulations is sl)own under other costs. Fixed assets Fixed assets are Staled al cost less deprccialion. Depreciation is provided on the tangible fixed assets, at the following rates, bascd on the cstiinated ugeful life of these fixed &ssets and their antlCiP2ted re$idulll value= Freehold the&tr¢ New bar Bar fixtures and fittings Tlieatre fixllires and fiiiings Teclinical fixtures 2 /9 5traiglil line loo/ slruiglit line l 01)/tr straight line l O /0 Straight line l O /0 Straight lili¢ d) Bar stocks Bar stock is valued at th¢ lower of cost and net realisable valiie. Cost is d¢t¢rniin¢d on a first-in, first-out basis. Net realisable vtslue is based on estimated selling price, less any further cost of realisation. Page 8
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES (Continued) Fuftd5 Funds held by tlie charity 8re used for.. Unrestricted fiinds comprise those funds which the twstees ar¢ free lo use in accordance with the churitable obj¢¢lives. Designated funds are unrestricted thnds eAmArked by th¢ tNstees for particular piirposes. Reslricted fiinds llre fi]nds whi¢h are lo be used for specific purposes as laid down by the donor or by specific tern)s of the app¢al under which Ilie tunds are raised. Expenditiire whicl) Iiieels this criteria is charged lo Ili¢ fund, with a fair &llocalion of management and support Costs. Going concern The trustees consider tl)at tliere are no inaterial uncertainti¢s over the charfftty's ability lo continue as a 80ing coiic¢rn. DONATIONS, LEGACIES AND SIMILAR INCOMING RESOURCES R¢strl¢ted Unr¢stricted riunds Total Funds 2024 2025 2025 Donations Leggcies 343 102 6,679 Income for the year cnd¢d 31 March 2024 consisted of £Nil UnstrICted fiinds Unre$tri¢ted Unrestrlcted Funds Ilunds 2025 2024 INVESTMENT INCOME Bank interest (gross) Unrestrlcted Unreytrlcted Funds Funds 2025 2024 THEATRE RECEIPTS mnberShIp subscriptions Ticket sales {nel of commission) Hire of main Iliealr¢ 3.618 36.068 3.800 29,560 Pagc 9
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Unrestrieted Funds Funds 2024 OTHER INCOME 2025 Eiitertainment ¢ominittee Insiiranc¢ monies received Net in¢om¢ from sale of sweets Coffees. ice Gr¢ams and raffl¢ tickets etc 33 17 3,277 THEATRE RUNNING COSTS 2025 2024 Production ¢o$ts Royalties Piiblicity (net of grants) Wages and cleaning Rep&irs and renewals liisurance Prinliiig, postage and slationery Rates and council lax l.Leai, ligl)t and water Tclcplione D¢pr¢ciation LTG coiifereiicc costs Bank cl)arges Suiii up char8e$ Website Scripts iiel of Sales Donations Loss on disposal of a5s¢IS TV Licence and Software 2,010 3,136 811 12,486 5,946 5,712 280 1.028 9,271 609 11,067 357 359 440 16 543 1,510 1,830 1.199 11,352 4,898 5,351 182 973 10,506 477 10,775 445 359 65 488 1,039 258 318 Tiieatre ninning costs We £54,647 (2024: £51,751) of whi¢li £54,647 was unrestricted (2024: £51,751) and £nil was restricted (2024.. £nil). Unrestricted Unre5trlcted Funds Funds 2025 2024 COSTS OF RUNNINC BAR Cost of bar sales Expenses Depreciation of fixtures and fittings 12,222 737 208 10,313 796 208 Page 10
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Unres¢ritted Unrestritled Funds Funds 2025 2024 OTHER EXPENDITURE Subscriptions and licences Sundries Professional fccs AGMICliristmos rcfreshmcnts 473 124 1,750 1,608 39 1,650 40 EMPLOYEES During tlie current and preceding year Tlie Royalty Theatre employed no key management personnel. During the current aiid preceding year the Royalty 'fhealre employed oiie member of staff. The employee hAs had no employee benefits in excess of £60,000 (2024.. £nil). 10. TRUS"fLES No Trustee received oi. is due to receive any remuneration or reinibursement of expenses directly or indirectly from the cl)arity funds. 11. TAXATION The charity Co1lderS ils activities lo be exeiiipl from coryoration tax by virtu¢ of Section 505 of the Income and Corporation Tllxes Aet 1988. 12. TANGIBLE FIXED ASSETS r(rechold Theatre TeehnlcAI Equlpment New Bar Theatre Bar Total Cost At l April 2024 Addilion5 Disposals At 31 March 2025 227,184 7,784 112.618 4,855 42 13,016 71 3,465 364,067 4,926 LJA Depreciation Al l April 2024 Charge for y¢ar Disposals At 31 March 2025 57,417 4,544 7,783 81,942 5,384 685 8,114 1,139 2,351 208 157.607 11.275 976 Net Book Value At 31 Marcli 2025 Ai 31 March 2024 Pagell
ROYALTY THEATRE SUIYDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 1025 13. DEBTORS AND PREPAYMENTS 2025 2024 Other debiors VAT 157 1,015 738 1,016 1,291 Prepajrynents 14. CASH AT BANK 2025 2024 Royal Bank of Scotland plc 15. CASEI IN HAND 2025 2024 Theatre float Bar 314 30 250 30 16. CREDITORS Amounts f*lllng due wltliln one year 2025 2024 Other creditors and accruals Page 12
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 17. FUNDS Blfwd @ 01.04.24 Balance @ 31.03.25 Income Expenditure Transfers Unrestricted Funds Designated Capital account 206,460 (10,299) 3,692 199.853 Gen¢ral fund Total Unrestricted Funds Restri¢t¢d Funds Refurbisliment fui)d Total Funds FUNDS- prlor y¢ar Blfwd @ 01.04.23 Balanee @ 31.03.24 Income Expendlture Transfers Unrestrlcted Funds D¢sTgi)atsd Capital account 189,141 (10,983) 28,302 206,460 General fiind 0 212 IS1422) L13 Total Unrestrlcted Funds Restricted Fiinds Refiirbishm¢nt tund Totsl Funds The capital account represents the net book value of tangible fixed assets Iield al tlie balance sheet dale. Transfers represent the movement in a5set5 during the year. The restrECted refurbisknnent fund represents donations and gryants received from fundraising undertaken specifically for refurbisl)ment plans. 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted Unrestricted General Designated Total Fixed assets Net current asseis 199,853 199,853 110,461 37,666 72,795 P&ge 13
ROYALTY THEATRE SUNDERLAND NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued) ANALYSIS OF NET ASSETS BETWEEN FUNDS- prior yeAr Restricted Unrestricted General Designated Total Fixed assets Net current assets 206,460 206,460 102,179 37,666 64,513 Page 14
ROYALTY THEATRE SUNDERLAIYD BAR PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 SALES 20,516 18,988 DEDUCT: COST OF SALES Siock at l April 2024 Add: Purchases 947 986 12 13,597 11,260 Less: Stock at 31 March 2025 GROSS PROFIT (40.40/0) 8,294 (45.6 /) 8.675 DEDUCT: EXPENSES Tumblers Wastage Cleaning & slalionery 167 133 437 155 128 513 7,557 7,879 DEDUCT: DEPRECIATION Fixtures and fittings 208 208 NET PROFIT Page 15