Smalles Goldie CHARTEREO ACCOiINTAMTS COMPANY REGISTIiATION NUM8ER..01210050 CHARITABLE COIIPANY REGISTRATION NUMBER.. 269645 Hull Truck Theatre Company Limited (A company limited by guarantee) Financial Statements 31 March 2025 111111 AE6CN4 2911112025 COMPANIES HOUSE
161
ICAew CHARTeReo ACCOUNTANTS
Hull Truck Theatre Company Limited Contents Reference and A(1ministratNe Oetsils 1to2 Trustees. Report 31014 Independent Audiiors. Rewt 15to18 ConSolated Statemenl of Finanoal Activities 19 ConsolKlated Balance Sheet 20 Balance Sheet 21 CS011dated Stalement of Cash Flows 22 Notes lo the Financial Stalements 23to40
Hull Truck Theatre Company Limited Reference and Adminlstratlve Delalls Charitable company Registration Number 269645 Company Registration Number 0121LN)50 The charitae company is incorp)rated in England and Wales. 50 Feren5way Hull East Yorkshire HU? 2LB Re9lstered office Trustees and Office The trustees and officer5 seNing during the year and gnce the year end We as folluws." TNstpp.s'. S Ajlan N Barley Igned 19 March 2025) E Beverfey {resigned 25 September 20241 S P Bngham lapwnled 24 September 20251 P Burgess (resigned 25 September 20241 P Coyle (resigned 25 Septernber 20241 Crmjncillor J Dad lappoinled 16 May 2024) M Debenham (appointed 25 Seplember 20241 L Elyworthy lappjnted 25 Seplernber 20241 RHart L C Hill lapwinted 24 September 20251 J Hin9)n Ireggned 25 September 20241 C Ja¢obsen (resigned 24 Seplember 2025) P Lautin (reSned 23 Aw"120251 F Leone {resned 24 September 20251 D Metters (appointed 25 September 20241 J O'Neill R Pritthard J Robinson Ireygned 16 May 20241 M Rob50n {resgne(126 November 20241 R Singh J Walsh L Whicker (appointed 25 September 2¢f241 Chair". RHart Secretsry.. J Mrf15-War(I Page I
Hull Truck Theatre Company Limited Reference and Administrative Detalls Senior Managernenl l Leadetship M Babych Team". J Mills-ward T Saunders J Wilson I519ned 30 June 2024} S Barton L Smtth D Gunby {appted 19 August 2024) Auditor Smal5 Gd* Chartered Accountants Statutory Auditor Re9enVs Court Pnncess Streel Hull HU2 8BA 8ankevs HSBC 34 Jameson Street Hull East Yorkshire HU1 3JX Page 2
Hull Truck Theatre Company Limited Trustees. Report The Iruslees. are diredors for the purposes of company Law, present their report with the finanual statements and auditors. report of the charitable company for the year ended 31 March 2025. The trustees have adopted the provisions ol the Stement of Recommended Practi ISORPI -Accounting and Reporb"ng by Chanb'es. in prepanng the annual reFort and financjal statements of the charity. The Trustees. Report incorporates dlsd0suS required to be made in a Strategic Rewrt to fvifil the requirements ol the Companies Acl 2006. The financial slalements have been prepared in accordance with the aceounting wliciÈs sel out in notes to the accounts and compty wrth the charfls goveming ¢Jocument. the Charities Act 2011 and Accounling and Rewrting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Retsng Standard app1Trcab in the UK and Republic of Iland published In October 2019. Public henlt The trustees nfirni that they have complied wth the requirements of section 17 of the Charities Act 2011 to have due regard to the publt benefrt guidance published by the Charity Commission for England and Wale5. BJECTIVES AND ACTNME RP RATING STRATEGI Objects and aims The lects lor wfiich Ihe charty is estatAished are lo pIonle. mainlain and aifvance education, particularfy by the producb.on of plays and encouragement of the arts. The Board of Trustees has considered the Charity Commission's guidan on public benefit ln shaping the charitys objects.ves for the year and pnning ils actNib"es. VISION To be a pneering theatrE wrth a unue northem voKe that is locally rooled and global in outlook, in5pinng 8rtist$. 8udiences and communities to ach their greatest Ixitenl. MISSION To produce arjd psent exceptional Iheatre ihat the divefsty of a modem Britain. We Mll prowde the sOUrc8s. space and support lo gmw Kople and ideas. We arg an ambassador for our city. a flagshw for our region and a lCOMIng fwour communibe& VALUES In¢lu$ion We make enjoyable and enriching theatre th reflects the diversrty.ol our nation We champion dose contact vrilh the arts to build a betier. faiier and just 5coety We prowde a safe and wekoming environment for al to enjoy and be inspired by theatre We embed equality of opportunty Ihroughout Ollr organisation. regularly evaknaling our work to ensure best practice Page 3
Hull Truck Theatre Cornpany Limited Trustees, Report Innovation We use (xjr tslenl and resources to grow people and Ideas We work with exceptional arb5ts to refresh and 4MagIne great theatre We fire the imagination, raise aSpratI and transform lives We develop new palhvrays lo overcome S(la1 and economic barrier5 to partiopation We creativety respond and adapt to change, embr rw thinkn.ng when tsckling obstades and 8dopt imaginative sc4uts.ons lo the thallenges tsele us Integrity We make choices and detssitins that ign ¥Mth our rn1. visiw an(J values We balance artists"c amm.on vAth finanual statrf.lity We develop ovr resources to mwmise OPPK)rtunths and strengthen our capacity We delivÈr quality and excellence across rNr entire operats"on, knowng that every contact we make th people matters NTrOOUCTION The thèatre continued to receive fvnding from Hull Cty Council wilh 2024-25 being the 5e¢ond year ol ils Arts Council Englan(J NatK>nal Portfolio Organisation status ftsr the fvnding perd 2023-26, now extended to 2028. Primary acliviti.es ftw the year indudeil. creab.on of an innovalive, indusive range of successful IhoUse thealn.cal produth.ons made In Hull lor Iccal audience5. Entertain our communities thgh prcJramming a toJ ¥ety of Vi$'n9 theatrical work and screenings. Running a varied Creabve Leaming pr¢4Jramme. supporb.ng local peop to UnIc their own ¢reab'vity and aChve their potenbal. ChampThrying IndusK)n awss all the theatres wrmk. ACHIEVEMENT AND PERFORMANCE (INCORPORATING STRATEGIC REPORT OISCLOSURESI Throughout 2024-25 we wdcomed 71.468 audienee members. On average 5% of all our bookeTS were new. A toial of 178 performances were 5tsged across the year. whKh induded 93 visiting Company performances. Hull Truck Theave ¢Jelivered a rich and war prcgramrrE of work in 2024-25 combining cornmunity engagement. c¢>produdions wlh national partner5. and reimagined das&cs that reflected our audiences and region. Page 4
Hull Truck Theatre Company Limited Trustees, Report Little Shop of Horrovs - [22 May- 8 June] y Howard Ashman & an Menken. D1rected by Loth"e Wakehan A co-production wilh New Wdsey Theatre Ipswch, Theatre by the Lake, and O¢tagon Bolton. Developed in response to audience research hJhlhtr.ng a desre for laTger•scale. popular musicals, this cult dassic was perfornd by a company of aclor-musicians. The partnetship enabled us to present ambibous, hwh-producb"on-vaue woth while sharing iesources and extending the shov/s reach to audiences across the U5 . Whafs Stage- "BOnke and bnllianr
Daily Mail - -Sci-fi fvn" The Stage- "Plenty to enjo Guts! The Music•l- [29 June- 6 Jylyl By Maureen Lennon, Directed by Torn Saunders Presented in partrership wth Hull Maritime, Guts was a new community pr(>Ju¢tion inspired by 3 true story from Hull's history. Wriiten by IoKal plaght Maureen Lennon with original music by Hull composer Joe RoFer, the shuw celebrated the Hull fish packers and their fight for equal pay - blending humoui. heart and local wde. - North West End- "Trnty talented. community cast" The Remews Hub - "It fee15 like the nght b'me forthis story to be told- Hull Is This- "lively, wbranl, entertaining and empowering" The Borrowers -129 Nov-4 Jan] Adapled by Chartes Way. Directed by Maik Babych Sel in 1940s East Yorkshire during the Hull Blitz. this rwmagining of the dassic tale followed an evaoJee boy al Christmas who discovers the tiny Borrower farn1 living under the Iltstsrbtsards. Live swing and big band4rispired music. puppety and inventrye design created a nch world of contrasb'ng scales, offering Ictal resonan and eXOn9 themes of family and displacement. The Guardian - 'It makes lh& impo&wble, p0ble. The Stsge - 'A festive laMy show with real heart" ' Yorkshjre Post-"Hull Truck rn0 Ihan delivets." Rapunzel -112- 29 Decl Written and Directed by Tom Saunde Our earty year5 Christma5 F*&JtsctK)n introduced young audiences lo theatre through a familiar, visually exciting story ftjll of partiupats'on and music. Theme5 of fn"endship, courage and discovery encouraged chibjren to explore their worhj in playful and imaginats.ve ways Fairy Powered Production5- Would 100% recommend!- Hull and Ea51 Riding Mumbkr- Yd&al foryoung children" Page 5
Hull Truck Theatre Company Limited Trustees. Report Mary and the Hy¢na$- ri Feb-1 Marchl By Maureen Lennon, Directed by Esther Richardson Co-pmduced wilh Pibt Theats, Ihis new play about Beverley ty Mary Wollstonecraft featured 0ri9inal song5 and music by Tor Maries laka Billy Nomatesl. The production combined history, feminism and live music to create a bohj and contemporary retelling of w iconic life. North West Erbd- "Superb wntin9 and electri.n9 M- The Reviews Hub-"An eloquent and SnantpI8 Fairy Powered Productions - "InffomJative, fvnny and veryenlertaining" Of Ml¢e and Men - [5 - 22 March] By John Sleinbe¢k, Directed by Sarah BDJham A cwroduth.on wth Derby Theatre arKf Bolkffl Octagon and part of our continuing educabon-focused partnership. Directed by Hulkb(yn Sarah Brigham, the pri*uction featured leaming4isabled actors who shared the role of Lennie, and a visually impaired actor who brought new perspective lo the rc4e of Candy reinforcing our cornmitment lo representation and indusivity on stsge. ' The Arts Dispatth - "Olfgts a slrong argument for the story's conttnued le¥anCe. The Stsge - °Impressively farthlul" The Rewews Hub- "St1 a cl•ssi¢j" Hull Truck Theatre's 2024-25 season showcased our abilty to deliver high44uality, accessitrAe and engaging work auoss scales and genres. From IcrAI stone5 and new Wrn9 lo ambiti¢)us ¢o-produ¢tions and famity favouriles. eath produ¢bon refie¢ted our ongoing commitment to creativty, collaboration and communty impacL OLFr annual Grow Fesiival was reimagined for 2024. Running from 6 to 21 June, the festival celebrated new and contempofary theatre and film, bringing together artists, creative5 and audiences. With a strong focus on artist development, eight events took pla over the three weeks, supported by ¢Jrop-in sessions for on&tOvone advice, nefvlorking opportunities and the 'Be Our Guest. Sharing event. This showcase featured three sarne perfomian¢es of new wod( by bcal freelance artists who received ta1 development bursanes, free access to space and staff support to help develop and shape their ideas. Alongside our produced prryramme, Hull Truck Theatre psented a wbrant and diverse range ol visiting work acr055 both stages. offenng audiences a wide th(Mce of theaire. comedy, music, and family entertainment I81, wional and naOnanIemaIlODaI arts.sts and companies. Highlights induded perfofmances from Ihe RSC'S 'firsl encounter wlh Shakespeare. producbon of Romeo and Juliet. Tilted Wig's Frankenstein, classic work from the John Godber company featuring performances of Happy Jack and Perfect Pitch and a unue collaboratson betsRen the One Punch Foundation and John Godber Ftyjndation. Local stories and performances from the city'5 thriving community eompanies and academies featured induding shows by NAPA, Stale of the Arts and How to Be Brave written by kxal wrrter Louise Beech which were complimented by Hull Comedy and Jazz festiva15. Our ongoing partnershFp Freedom Festival to share perfomances, experience5 and 5torie5 from Intèmalional arbsts. centered aroLtnd baby tn"endly shows, Bob Marfey for 8abies and Univws that reflected our baby trndlY offer for produced work, and forrned part of our wider family offer. The unwjve trAend of hbjh-quality prOfeSsn31 tounng )rk. ¢elebratitins of community performances, schoo15' showcases: and leslNals. inforCed Hull Truck Theatre's role as a welcoming cultural hub for local people as both papantS and audCes. and afbsts and companies from acTOSS the uty and wider region. Page 6
Hull Truck Theatre Company Limited Trustees. Report Audiences We continue lo monitor audience feedback via Indigo Sha. We had 2,979 responses In total across the year. The number of Organisations that Indigo now has on board has also dramats¢ally increased over the last year. an¢J the overall dats set is ncm al 206,772 responses (compared to 66.683 last yearl. Some highlights from cmjr annual wew with Indigo to understand audience insHJhts and sentiment. Our NPS Score Is up lo 87 {73 benchmark) - We ranked #1 for our NPS out the 50 cultural organisations that look part in the benchmarking exercise, whth Is a huge achievement and testament lo the hard work of all departments giving audnces such a fantasb'c experience Stsff rating is up to 4.714.6 benchmark) Perfwnance rating is up lo 4.714.5 benthmarf(I Acc•ss rating 18 4.514.1 benthmafkl 95% of audiences s0 staled that they beIve Hull Truck Theatre is Important to the local ¢tsmmunlty. 88% of audiences belreve that we lead the way for cuhure in the area. with the envInMental impact reachon also being very high 59% Ivs 50% benchmatkl. Cr ive mm Hull Truck Theatre'5 Crealive Leaming department delivered 12.843 engagements awjss 520 sessions in 2024-25, engaging partiaparts of all ages and abilities through wular groups, schools work and community projects. Weekty activity induded 5 paid-for Youth Theatre group5, 2 free Youth Theat groups, ihe Act 111 group for kn.Ted adulis: and dedicated sessions for students from Ganton SFecial School and Frederick Holmes Special School. focusing on colklx)ratson, confidence and theatre skills. At the end of the financial year. 76Uh of Youth Theatre reported feeling "connected to other peoF4e" because of the programrne ank1 87% 01 participants report "I felt Ihal l Gould be myself." This is an increase of 100A on the former and 21°A in the Letter since the start of the year. The year saw the creab.on of several new productions, including Sense & Sustainabj'lity, a new play written by Lydia MarcharTI and directed by ASbC Director Mark Babych, perfomied by the Act 111 company. The Young Creators group devise¢J and perftsMd The Dutch Dash in the Studv) Theatre. Co-Cated with the theatre's Assouale Difedw Tom Saunders. Our Youth Theatre's Senior and Young Company gTOUPS18ges 11-181 cc41abored to develop 975 Day5... prObaY. a powerful piece exploring secondary schwl life, perf0md by four groups who shared roles [0$5 different stage$ of their characters. ioumeys. Page 7
Hull Truck Theatre Company Limited Trustees, Report The department also delivered a de range of schoc4 and college workshops, covering careers in the ar(s. literacy, curri¢ultJm texts and bad(slage tours. alongside a series of Sth(M hotsday athvthe5 hekl both al the theatre and wlhin community settings_ In partnership wth the Royal Shakespeare Company. H1 Truck Theatre ¢ontsnued lo provide catiVe CPD for teathers acr055 Hull and the Easi Riding, Integrabng drama into literacy teaching. This culminated In a Fesbval, Whe leachers directed their pupils in scenes frorn Twelrth Night on the main stage with 458 child performing over 4 days. The learn also progressed its the-year a[led drama project I1h the NHS and as well 3s bespoke training for local businesses, using theatre-ba5ed methods to enhan communication. empathy and problem•solving in workplace settings. Professional actors worked Trainee GPS, reception staff and Business customer service teams to explore real-world scenarios and build skills for handling challenging interactsons. Through this wpde43nging programme, Hull Truck Theatre's Creative Leaming department wnb'nues lo inspire creatsvity, confidence and connection awss communities - helpng part1pantS discover their voice5 and see themselves as part of the ciivs vtsant cultura story. The theatre continued to find ways lo reduce its carbon foolprint and inaSe its learning in Ihe area ol sustainability. This induded charnpioning the cultural sectorfs role as a key partner with Oh Yesl Net Zero. 3 gn31 group made up of bussnesses and organisab.ons working tf>3elher lo collecbvely dnve down Hull's carbon footprint. We at50 focused on our building. tracknng energy usage to understand how we can work MO efficienty a view to both reduce our footprtnt and make finanrJal savings. Our Act 111 community grgup ¢ated a pmducticyTr ol "Sense Sustsinabili which examined reliree5' relationship wth a communty allotment. We produced this production foHowng the Theatre Green Book baseline standard for produ¢b"ons. In 2024. we welcomed a new Facilibes Manager aftef the previous Frt)sttholder relired after 26 years. we invested in robust toining and development pLan induding Carbon Lrteracy Training wrth a pkn to support additional training c(xJrses In 2025-26 to ensure he has the too15 to develop our building in a svslainable way. Linda Whker also became our Board Green Champion and faalrtaled a link lo Hull Universit*s Msc programme In Renewable Energy and Low Carbon Soluts"Dns. Students from this programme are partnering wilh Hull Tiud( Thealre lo measure buikling energy usage an¢ identify ways lo reduce carbon emissRS auos5 the Ofgènisabon. We have also buitt a relalionship with Martin Budd. Climate Change frAanager at Hull City Counal who is now a regular aitendee of HTT'S Green Action GTOUP meetings and provides a key nk to the city's 5ustsinakn.lity iniliab"ve5 50 thal we can align our goals. Page 8
Hull Truck Theatre Company Limited Trustees. Report Our Missi is to reflect a modem. dIvee Brtsn across all areas of our work- gn stage. among our audiences and partpan. and wthin our worklorce. Our Inclusion ACtn Group, compTiyng repre5entative5 from every department, continues to drive fOard our equality, diversity and indusion plans. In 2024-25. Hull Truck Theatre enlered a peri of leaming and reflection a5 part of a Ramps on the Moon's nalional cohort. exploring how lo embed the soaal model of disability across all aspects of our operation5. A high1ht of this was delivery of a casting workshop for Deal. DISab and Neurodiverse performers. supported by a Ramps on the Moon grant Leaming from this session is now informing our future casb.ng practices and approaches to representabon. Throughout the year. we a150 offered community Iickets to Hull Truck producb.ons and our Great Adventures progr8mme toured to community venues wthin target p)slcodes. ensuring access for lamilies who might not otherwise attend live theatre. OUT annual Famity Open Day welc>Jmed over 400 visitors under the Iheme of Kindness and Being a Gcxyl Nehbour. For Christma5 2024. the theatre collaborated vth eommunity groups lo create paperk story displays and storytelling sewons inspired by Rapunzel, in local libraries and community centres. At Queensgale Care Home IHU3}. we created a fesb.ve theatre experience featuring a screening of The Borrowers, accompanied by a pre-wsrt event ¥th ¢ostume discussion5, a 1940s swng performance, and an introdvctson by Matk Baby¢h. Wilh 87 care homes atross Hull and East Yorkshire also receiving a re¢¢xding of The Borrowers to share wilh dentS over the holidays. Hull Trud( Thealre remains committed lo Grealing a safe. indLtsive and welcoming environment vlhere everyone can feel valued and enjoy the transformatsve power of live theatre. Throughout 2024-25. the theatre offered caplione¢J: BSL. audio-described. relaxeil and baty-friendty performances across all in-house productions. 2.070 Pay What You Cart b"ckets were taken up by local peop. 928 community tickets lal £3 each) were given out to Community groups. and 777 local people visited the theatre for free as part our Give the Grft of Thealre scheme. These schemes focus On local communities experiencing disadvantage and enable communities to enjoy the magic of a theat performance. many for the first b"me. Give Thg Gift of Theatsp is generousty supwrted ty our SpOUh1 corporate partners and a publ appeal. The theatre was also recco3nizet1 as a finaisl in the folkm.ng regional awards". Finalist- First Clas$ Service People in Business Awarfs Finalist- Ethical. Responsible & Sustainable Tourism @ REYTA 2024 Special Commendabon- Accessible & Inclusive Tourism @ REYTA 2024 Winners- Accessible & Indug¥e Toufism Award @ Yorkshire Post Tourism Awards Finalist- Outstanding Contn'tJ)tion lo Ihe city @ HullBID Avords Finali5t- Best Place to work @ HullBID Awards Page g
Hull Truck Theatre Company Limited Trustees, Report FOR FU PERIOD INCORPORATING STRATE IC REPO TDI CLO RES The theatre looks foFward to an exciting year in 202&26. Drawng on audien research from 202>24. our programme features a IarnIC mix of famik.ar trtjes and new work. We have five productions planned for 202&26: To Hav• and To Hold - May 2025 Wntten by Richar4 Bean and directed by Terry Johnson. this knttersweet comedy follows a brother and gsler turnIng to East Yorkshire lo Ca for thwr ageing parents. the production provides strong representat for okler artssls. Pride & Prejudice- September 2025 Building on the suG¢ess ol Little Shop of Horrors, we continue our colaborats"on5 Wth regional iheatre partne to deliver hwJh-quality, larger-scale productK)ns. This UK premTrere of a hilarious new adaptabon of Jane Austen's dassic, featuring a large cast and eatIve team. exemplifies how our partnerships enable ambitsou5 work that reaches audiences across Hull and beyond. Oliver Twist- D¢¢•mb•r 2025 l January 2026 Our large-scale family prorJu¢bon lor Christmas, adapted by Debcah MeAndrew with music by John BHldle, returns in a refreshed staging wih new design and musical arrangements. Two local young company teams wll take part. gainin9 hands-on exwence akjngshle professional artists. The Little Mennaid - D•¢emb•r 2025 1 January 2026 Our earty years Christmas show, vrritten and diie¢ted by Assoc4ate Director Tom Saunder5, conbnues 10 grow in popularity and wll be extended for a further week than In previous year5. Thi5 V15ually engaging adaptstion ruseS on courage and finding one's voice, introduong young audiences and families to the joy of h.ve theatre. Macbeth - February 2026 (thèn touring) Our partnership with Derby Theatre and B(on Cwon ¢tinueS with Shakespeare's Macbeth. Following Animal Fam and Of Mice and Men. Hull Truck will lead this production, and the co-producb.on invofves the crealive team consulb.ng wth teachers to ensure a¢¢e$9bility and engagement for GCSE students. New Work in Development 202>26 We have been awarded fvnding from the FO foundation to fijrther develop The new plays exploring the people and StleS ofour region are currentty in deveknpment rhis Damp Won t 8um by Josh 0rtOn- a bve story with live music set in Hull's iconic AdelFi Chjb . No 8alls by Lydia Marchant - exFkn'ng young wcynen's experiences in gra55rcots football Can We Be Friends? by Hannah Scorer - a comedy-drarna about tr0 Hvll mums seeking a betier lrfe for themselves and thr six-year<4ds Exh wll undergo éevelopmenl wthshops wth audien sharing's in surnmer ar autumn 2025. Page 10
Hull Truck Theatre Company Limited Trustees. Report Hull Truclt Theatre wll continue to delNer imaginafive. high-quaity producb.ons that engage and Inspi 3udien¢es across Hull and the Wer regton. Wrth strong finanual managernenl and a commilmenl lo environmental responsibility, we are well placed to face future challenges with confidence. Our financial powlion remains statAe as we enter thÈ second year ol Arts Council England's National Portfolio ststus, extended lo 2028. Hull City Co(tncil's Community Plan and Cultural Strategy reaffirm the importance of local storytelling and corrwnunity4ed work that is al the heart of our mission and Visn. We believe in the power of live performance lo inspire. entertain. and connect. and we look forward to sharing another vibrant year of theatre filled wth laughter. music. and imagination. FINANCIAL REVIEW The group's principal funding sources conts.nue to be grantSpOnSOrshiP from Arts Council England and Hull City Council, lojether wth box office pts. funding from trusts and foundats'ons, donations, pon60161p, evpnt hirp, and cat¢rinq charges. 2024-25 was the second year of the 2023-26 funding agreement with Arts Council England as a Natnal Portfolio Vrganlsatlon INPOI, with an extension now announced for years vntil 2028. The group also continues to benefit from Claims of Theatre Tax Relief on the theatre's qualty.ng prcAluth'ons_ The 2024-25 financial year $Ited in Hull Tr(Kk Theatre gmup achiewng a Surplus of £88,85412024". £36,B621 on untriCted general funds. Overall, Ihe Hull Truck Theatre group made a defiut for Ihe year of £51,47512024." £147,21418nd this was aftef the indusKJn of depreoats'on tolalling £129.24212024". £131.592). Whilst the group balance sheet pOrts nel assets of £14.336,598 12024.. £14,388,073), most of this figure, £12,896,047 12024.. £13,018.6841 lateS to the theatre building. which is hekl in a restri¢ted trust fund. Accordingty, the eXpendae assets availab to the group stand at a much more modest level and require astule financial management. Further details of Ihe expendable reserves are Sel out below. R•s•rves policy During the year. the group fijrther consolidated ils Unde"n9 financial posth'on and at 31 March 2025 ha¢J unreStrted general reserves of £1,000,58412024". £911.7301. In line with Ihe reserve5 policy, the Iru$tees are comrnitted to continuing to build these re$eNes to a level which is equwalent lo at lea51 six months, operational expenditure lapproximatety £1.100.0001 In order lo seGure the theatre's long4em) financial s111en¢e. Page 11
Hull Truck Theatre Company Limited Trustees. Report With detailed knOedge of the local environment and operating condib"ons. 51rengthening ol the company's reserves wa5 seen as essential due to the uncertain finanual posrtion of the enti ¢uttvral sector due lo siandsbll funding. Unpredictable audience behaviour together with above average inflation means that the company has set anolher deficAt budget lor Ihe 2025-26 finanaal year. Therefore, It Is essenbal that serveS are suifiaent to ensure a viable trading posibon throughout land beyoftdl this period. ReSponsie financial management wll continue. and we will closely control spending and regularly Monitor budget5 as we drive forward new income generation Initiats"ves. The group has ¢Jevdoped a set of designated reserve5, one purpose of which is lo protect against three major areas of risk idenbfied by the trustee$. paIrS and renewals Ilhe theatre building is now over len year5 oldl. producb.on ¢osls lthe Sea and arnbth.on of prrxyuclions can i)e curtailed by lack of fjnancial resource). and staff costs Ilo mitsjate the effects of a nsing National Liwng WaJe against the backdrop of standstill public subsidyl- In the knnger temi the trustees propose to rebuild and il possible. grow - these designated amounts year on year for the purposes of long4errn strategi protection. Additsonal destgnalions are vsualty made annualty as part of a foThvard-thinking approach to financial planning as intemal and external circJJmstances Continual thange and evthe. Amounts are designated by the trustees either lo resource events and initiaknves ouiside the normal annual operational pattem, or for the prSe5 of risk mthgatson. Going concem The Finance & Genera PurKX)ses sutK¢ynnwttee of the Board regularty revEwts the group's reserve5 and cash fl¢)w proieth.ons lo ensure it is able lo meet ts financial (lIgatn5 as Ihey Trall due. The trustees have considered the finanGk21 f0C8Sts Vering the Arts Councils NPO period 2023-26 together wth the group's reserves and sh flow projections. The financial forecasts have been prudently wepared and any unl¢yeseen income reducb.ons andlor expenditure inue35es w1 be supported by Ihe strong reserves base. Therefore. the forecasts show that the group will have adequate re50urce5 to meet its obligabons as they fall due and to continue in operabonal existence for a penod of at least 12 months from the date ol approval of IhÈsÈ financial statements. As a result. the trustees are of the view that the charrty and group are a going concem and the financial statements have been prepared on a going concem basis. TR CTURE GOVERNAN EMENT Governing do¢ument The charity is governed by its Artides of Assoaation and conth"tutes a company hmrted by guarantee a5 defined by the Companies Act 2006. The liakn.lty of the membels in the event of the MpanY being wound up is limtsd to £1. Organisatlonal stru¢ture A Board of Trustees which meets four times per annum ha5 uID"mate responyknlty for the affairs ol trTe Ihealre. The tnjstees appoint the Arb"stic and EXecute Directors, who manage the day-104ay operations ol the theatre as co-CEOs. The Strategt Management Tearn {SMTI makes wular reports to Ihe trustees, and SMT member5 attend Board meetings as appropriate. In addition lo the full Board there are two sutr*cofnmittees whh meet Vrarly,. namety the Finance & General Purposes and Personnel & Appjiniments syb-¢ommittees. Furthermore. there is a nominated truslee who sits on the theatre's internal Health & Safety committee, Green Group, and Indusion "on Group. Through tITe5e mechanisms and struclures. the Board of Trustees Is able to fulfil 115 dub.es of care, dilvjence, and skill. Page 12
Hull Truck Theatre Company Limited Trustees, Report R•cruitm•nt andappointment of trustees A5 a significant funder and stakeholder. Crty Council has the fight lo nomin* at any one ij'me two trustees. Other truslee5 are appointsd via a robust recruitment pro¢ess involving the acty.ve participation of the Board and ccE0S. The membership of the Board of Trustees Is gularlY reviewed to ensvre its skn'lls and experience are fit for purp)se and that It is truty dtverse and inclusive. Suitsble trustees are app¢Jnted to fill any Wa&e5 as scv)n as posgble. Induction and training of rrustses Newly appointed trustees undergo a wocAss ol induction which indudes a ¢Jiseussion wth the Chair, a tour ol the building, introduebon to key staff and opportunities lo familiarise themselves wilh the organisation's work. Throughout the year invitation5 to attend a rnn9e of theatre, educalion and eommunity events are exiended to trustees. Board Away OayB Vering a variety of relevant topics are helj on a Tektsvefy regular trjasis. Paypollcy for senior staff Pay for senior staff is aulhorised by the thealre's Personnel & Appointments sub<ommltte8", wilh pay bands benchmae against other theatre5 01 a similar srie. Page 13
Hull Truck Theatre Company Limited Trustees. Report tement of Trust n5ibiliti The Iru51ees (who are a150 the ¢Jirectors of Hull Truck Theats Company Limited for the purposes of company lawl are responsible for weparing the trustees, report and the financial statemen15 In accordance wih applicable law and United Kingdom Accountsng Stsndaids (United Kingdom Generally Accepted Accounling Practice). Induding FRS 102 "The Financkal Reporting Siandard applicable in the UK and Republic of Ireland". Company law requires the trustees lo prepare financial slalements for each financial year. Under company law the trustees must not approve the finanaal ststements unless they are satisfied that they give a tnje and tsir eW of the stale ol affairs of the parent charitable company and the grwp and ¢f the incoming sOurceS and applicats.on of $Ources. induijing its income and expenditure, of the charitable group for that period In prepanng these financial slatements. the trustees are required to.. Select suitable a¢unting policies and ap them ¢on$islenUy. observe the methods and prinuF4es in the Chariti'es SORP". make judgemen15 and estimales Ihat are reaSonae and wudent, 5ts1e whether appliCae accounbng slandards, comprising FRS 102 have been follcp*ed, subject to any malerial departures disdosed and Èxplained in the financial statements,. and prepare the finanual slatements on the going concern basis unless it 15 inappropriate lo presume Ihal the pant charitae company will conb.nue in bugness. The truslees are responsible for keeping proper accountsng records that can disdose reasonable accuracy at any tsme the financial pgsibon of the parent charitable company and the group and enable them to ensure Ihat the financial statements compty the Companies Acl 20C6. They are also sponsible for safeguarding the as5els of the parent chantable company and the group and hence for taking aSonable steps fty the preventKJn and deleclion of fraud and other ir13rrtIÈs. In so far 35 the tru51ees a aware.. there is no relevant audil inf0mtiOn of whh the group's avditors are unaware.. and the tnJstees have taken all steps that they ought to have taken to make themselves aware of any relevant audit informabon and to establish that the audilors are aware ol that informabon. Reappointm•nt of auditor The auditors. Smalles Goldie. wdl be proFK)sed fty re-appointment * the forthcom¢ng Annual General Meeting. Approved by order of the board of trustee5 on ................. 26 Nov 2025 . and signed on its behalf ty.. RHart Chaiman an¢J Trustee Page 14
Hull Truck Theatre Company Limited Independent Auditorfs Report to the Members of Hull Truck Theatre Company Limited Opinio We have audrted the financial slalerrEnts of Hull Tnjck Theatre Company Limited (the 'charitable parent company) and ils subsidiaries lthe 'group'l for the year ended 31 March 2025. which comprise the Consolidated Statement of Financial Acts'vities. Consdidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Noles to the Finantsal Stslemenls. including a summary of signifficanl accountin9 polioes. The finanaal reporting frarnework that has been aprAied in their preparation is Unrted Kingdom Accounb"ng Slandards. compnsing Charrties SORP - FRS 102 'The Financial Repong Standard appli(xblè in the UK and Reput4ic of ITeland' and appts"cable law Iunited Kingdom Generally Aeeepled Accounbng Prath'ce). In ovr OnIOn the fJnan¢ral $tatenRnts'. give a true and fair view of Ihe state of the group's and parent tharitable company's affairs as at 31 March 2025 and of rts inMIng resourS and applicatson of resources. induding its InMe and expenditure. for Ihe year then ended". have been propedy Pped in accordan wrth United Kingdom Generally Aceepted Accounting Practice, and have been wepared in a¢ance with the requirements ofthe Companies Act 20C£. Basis for opinion We conducted cmjr audil in accordance with InlemalTonal Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilibe5 vnder tho$e stsndards are further described in the audrtor responsibilities for the audit ol the financial statements Section of our report. We are independent of the group in accor(lance the ethical requirements that a leVant to our audit of the financial statements In the UK, Including the FRC'5 Eihical Stsndard, and we have fvifilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evKlence we have oblained is suifKient and appropriate to pro¥e a basis for our opinion. Conclusions relating to going ¢on¢em In audib.ng the financial statements. we have conduded that the trustees use of the going concem ba515 of accounts'ng in the preparatson ol the finanual stslements 1$ appropriate. Based on tre work we have perfofmed, we have not identffied any material uncertaints.es reloting to events or conditsons that, individually or eollectivety. may cast significanl doubt on the group'5 ability to conts.nue as a going concem for a pericrtj of at least Iwefve months from when the tsrvJinal financial siatements were aulhorise(I foK issue. Our responsibilities and the reSnsIbIlI.es of the trustees wth respect to gtyng concern are described in the relevant sedions of this reporL Other InforntiOn The trustees are responsible for the other infomiaiion. The other information comw5e5 the infomiation included in the annual pOrt. other than the financial statement5 and our audilorfs report thereon. Our opinion on the finanoal ststements dS r1 cover the other infornth'on and we do not express any form of as5uran¢e nCluSn theOn. Page 15
Hull Truck Theatre Company Limited Independent Auditorfs Reportto the Members of Hull Truck Theatre Company Limited In connection with our audit of the financial statements. our SponsIbl1 is lo read the olher infomiaiion and, in doing so. consider whether the other informats.on is rnaterially inconsistent wth the financial ststements or our knowledge obtained in the audrt or olherwise appears fo be rnalerialty misstated. If we iéentsfy such material inconsistencies or apparent material misstatements. we are quired to delefrnine whelher there is a material m15slatement in the financial statements or a material misstatement of the other Informabon. 11. based on the work we have performed, we conclu¢Je that there is a rnalerial mis5talement of this other Inforrnab"or, we are required to report that fact. We have nothing ta feport in this regard. Opinion on other matter prèscribed by the Companies Act 2006 In our opinion. èased on the work undertaken in the course of the audil. the Informatbon given in the Trustee5'. ReFrt for the financial year for which the financial statements are prepared 15 consistent wth the finanal slatements., arid the and Truslees, Report have been prepared in accordance with applicat4e legal requirements. matte on which we are required to wepgrt by •xc•ption In the light of our knowledge and understsnding of the group and the parent charitstje company and ils environment obtained in Ihe course of Ihe audrt, we have not Idenbfied material misstatements in the and the Trustees, Report. We have nothing to report in respect of the lollowing matters where the C¢ynpanies Act 2006 requires us to report to you if. in our opinion adequate accounting records have not been kepl or relum5 adequate for our audit have not been received from branches not visrted by us, ¢y Ihe finanal statements are not in agreement the accounts.ng records and retums., or certain disclosures of trustees. muneratI( speafied by law are not made, or we have not received all the Information and explanabons we require for our audit,. or the trustees were not entilled to take advantsge of the small companies exemption frorn Ihe requirement to prepare a SlrategK Rewrt or in preparing the Report of the Trustees. R•sponsibilities of tNste As explained rn0 fully in the Statement of Trustees, RespsIbilrtS Isel out on page 141, the trustees (who are also the directo of the charilable company for the purposes of company lawl are Sponsie for the preparatTron of the financial statements and for being sats"sfied that they give a true and fair view, and for sut inlernal control as the tIUSlees detemine is nec£ssary to enable ihe preparation ol financ[ statement5 that are free from material misstalement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for a$sn9 the charitable company'5 abilty to conbnue as a going concem. disdosing, as applicatrAe, matters related to goin9 con¢em and usng the going concem basis of acrA)unting unless the trustees eiiher Intend lo Iiquidale the charitable company or lo tease operab'ons. or have no realist alemaljve but lo do so. Page 16
Hull Truck Theatre Company Limited Independent Audito6 Report to the Members of Hull Truck Theatre Company Limited Auditor rtspmslbilltles for th¢ audit of the financial stst¢ments Our objectives are to obtain rèason3t4è assuran about whether the ffinancial 51alemenls as a who are free from rnalerial misslalemenL whether due to fraud or error. and to issue an auditorfs report that Include5 our opinion. Reasonable assurance is a high lèvel of assurance. but is not a guarantee that an audrt ¢onducled in accordance ISAS {UKI will always detect a material misstatemenl when it eSts. Misstatewnts can arise from fraud or error and are consided material if, individually or in the aggregate, they could reanablY be expected to influence the e¢onomi¢ decisions of users laken on the basis ol these financial statements. Irregularities, Indvding fraud. ale instances of non-compliance laws and regulations. We design procedures in Irne with our responsibilthes, oudined above. to detect material misstatemen15 in respect of irregularities, including fraud. The extent to our woceduies are capable of dele¢ling ifregularitie5. inclLKling fraud s detailed below. Our approach to idents"n9 and aSSen9 the risks ot material misstatement in respecl of irregularities. including fraud and non-COrnF4iance wth Lws and regulation5, was focused on specific Laws and regulations which we con5KJered may have a direct material effed on the Ghaiity only and consolidated financial statements or the operatk?ns of the chantsble company and Ihe group, including the Companie5 Aci 2006, ihe charib.es Act 2011. data protection. antiribery, employment and health and safèty legislabon. An understanding of these laws and regulations and the extent of cornpliance was Ob"ne through di5590n with management and inspectsng legal and gulatIy correspondence. We assessed the susceptibility of the charilalje compangs and consolKlated financial 5tstemenls to material missialement, induding obtaining an understanding of how frau%Y rnighl (x¢ur. by making enquiries of management and consiéering the Internal contrejs Jn pkce to mib.gale risks of fraud and nonwcompliance with laws and gUlations. To address the ii5k ol fraud thr(xJgh management ly.as and overyide of contro15, WE." performed analybcal wctedures lo enbfy any unusual or unexpeete¢J lab"onshIps,. tested journal entries to identify unusual transact)ons" assessed whether judgements and asyjmpts.ons made in detemining the accounting estimates were Ink1icalive or potential bias", and inveslKJated the i*ionale behind significant or unusual transols. In response to the nsk of irTegulanb"e5 and now)m lance with laws and re9ulats"ons, we deswJned proceijures which included. bul were not limited to_. agreeing charity onty and consolNJatsd financial statement disc105UTes to Unde"n9 supporting do¢umenlatson', reading the minute5 or meeb.ngs of those ¢harged govemance, enquiring of management as to actual or potentsal Ists"gatn and daims". an reviewing corre5pon¢Jence with HMRC, ielevant regulators arbd the Charitsble company's legal advisors. Page 17
Hull Truck Theatre Company Limited Independent Auditor's Report to the Members of Hull Truck Theatre Company Limited Oue lo the inhereni limitalions ol an audi( Ihere is a risk Ihat we wil not delect all irregularities, including those leading to a material misstatement in the financial stalerr*nts or non-compliance wth regulation. Th15 r15k Inueases the more that compliance 7thth a L3w or regulatKJn is MoVed from the events and Iransacbons refle¢led in the financial statements. as we wll be less likely to become aware of Instances ol nonMpli3nCe. Auditing 51andards also limrt the audit pmcedures required to identify non-comFlian¢e wiu) laws and regulations to enquiry of the diiectors and other managemenl and the Inspeclion ol reguktory and legal correspondence, if any. . The risk is also grealw adIng irwularities rring due to fraud rather than error, as fraud involves inteniional concealmenL forgery. collusion. omission. or misTepresentalion. A further description of our responsibil"e5 is availabk on the Finanual Reporting Council's website at.. wiw_Irc.org.uklaudit¢Y51e5ponsitslities. This descnption forms part of our auditorfs report. Use of our report This report Is made solely lo the tharitable parent CoMpanS trustees. as a body, in accordan with Chapter 3 of Part 16 01 the Companies Act 200S. Our audit work has been undertaken s¢ that we might state to the group's trustees those martets we a requi lo state lo them in an audilorfs report and l¢r no other purpose. To Ihe fvllest extent pennitted by , we do not accept or assume responbIlIty to anyone other than the Charitab parent company and its trustees as a body, for our audit work, for this report. or for the opinions we have fom)ed. steen Bramall Bsc., FCA (Senior Statutory Audrtorl For and on behall of Smalles Golde Chartered Accountsnts. Regenvs Court Princess Street Hull HU2 8BA Oale-. 26 Nov 2025 Page 18
Hull Truck Theatre Company Limited Consolidated Statement of Financial Activities for the Year Ended 31 March 2025 (Including Consolidated Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted Oesign•t Restrlcted fvnd$ funds funds Total 2025 Total 2024 Note INCOME Donations and lege5 Charitsble aCtivrtS Other trading activthes Other income 35.998 2.253.401 166.778 35.998 2,253,401 166.778 33,901 1,960,256 151,557 52,89) Totsl income 2,456.177 2.456,177 2, 198,604 Expenditure on: Raising fvnds CharitatAe athviti 17,608 2.349.715 120 130.062 17,728 2.489,924 16.486 2,329.332 10,147 Tolal expenditure Net inn{expendIlUreI 2,367,323 10.147 130,182 2.507,652 2,345.818 10.147 51,475 147,214 Net movernenl in lunds 88,854 {10.1471 1130.182) {51,4751 1147,214) Recon¢iliation of funds Total funds brought forward 911,730 404.024 13.072,319 14.388,073 14.535.287 Total funds carried fon¥ard 22 1,OQO,584 393.877 12.942.137 14,336,598 14.388,073 All of the group's acliwbes derive from conbnuing operaknons during the atove perAxls. The funds breakdown for 2024 is shown in note 12. The notes on pages 23 to 40 forrn an integral part of these financial state15. Page19
Hull Truck Theatre Company Limited (Registratlon number. 01210050) Consolidated Balance Sheet as at 31 March 2025 Unrestricted R¢slri¢led funds funds 2025 2024 Fixed assets Tangible assets 13 53.981 12.8%,046 12.950,027 13,044,276 Current assets Deblors C45h at bank and in hand 15 518.382 1.425.117 518,382 1,471,208 348.902 1.502,411 46.091 1,943.499 46.091 1,989,590 1,851.313 Creditors: Amounts falllng due wlthin ont year 556.715 556,715 452.284 Net ¢urrenl assets 1.386.784 46,091 1.432,875 1,399,029 Tolal assets less current liabilities 1.440.765 12.942,137 14.382,902 14,443,305 Creditors.. Amounts falling due aft•r more Ihan one year 17 46,304 46.304 55.232 Net #s$ets 1.394,461 12,942, 137 14.336,598 14,388,073 Funds Re5triGled lunds 12.942.137 12.942.137 13,072,319 Unrestricted funds Designaled Funds General Funds 393.877 1,Th)0.584 393,877 1,000,584 404,024 911,730 Totsl unre5tn.cted funds 1.394.461 1.394,461 1,315.754 Total funds 22 1,394.461 12.942.137 14.336,598 14,388,073 The tru51ee5 have ppare{l group accounts In accordance wth sects.on 398 of the Companies Act 2006 and section 138 of the Charitses Act 2011. The.financial slatemeftts M pages 19 40 *ere apFffoved by the trustees, aThJ alWISed for iue 26 NDY2029' arKI signed on the¥ behalf trf.. Hart Chair and Truslee The notes pages 23 to 40 form an integral part of these financkal statements. Page 20
Hull Truck Theatre Company Limited (Registration number." 01210050) BalanGe Sheet as at 31 March 2025 Unrestricted fvnds Restricted funds 2025 2024 N¢X• Fixed assets Tangible assets Investments 38,561 210 38,561 210 7,269 210 14 38,771 38.771 7,479 Current assets Debtors Cash at bank and in hand 15 ,243 1,136.021 1.700.264 564.243 1,182,112 386,688 1,237,824 46.091 46,091 1,746,355 1.624,512 Credltors: Amounts fallin due within one year 542.848 542.848 440,872 N•t Current assets 1.157.416 46.091 1,203.507 1,183.640 N•t assets 1,196,187 46.091 1.242,278 1,191,119 Fwnds of the charitable company: Re5th"cled funds 46.091 46,091 53.636 Unrestricted funds General Funds Designated Funds Total urbrestn'de(I funds B02 310 393.877 802,310 393,877 733,459 404,024 1,196,187 1.196,187 1.137,483 Total funds 1,196,187 46,091 1,242.278 1,191,119 The financial statements on pages 19 to 40 were approved by the tru5tee5, and aulh0ri5ed for issue on 26'NOv 2025" and signed on therr behaw by.. Hart Chair and Trustee The notes on page5 23 to 40 form an inlegral part of these financial staternents. Page 21
Hull Truck Theatre Company Limited Consolidated Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Cash flows ft¢m operating activilies Nel expenditure 151,475) 1147,2141 Adjustments to cash flows from non<ash items Depreciation Profil on disposal of tangible fixed assets 13 129,242 131,592 52,89Q 77.767 168.5121 Working capital adjustments Ilncreaselldecrease in debtors Increase In creditors 15 16 (169,4801 103,913 9,380 120.201 Nel eash flows from operating actNities Cash flows Irom investing a¢ti¥ftles Purchase of tangle fixed assets Sale of tangible fixed assets Net cash flows from investing acts¥e$ Cash flows from financing activilies Repayment of loans and borrowngs Nel Idecrease)fincrease in cash and cash equiva*nts Cash Gash equivalents at 1 April 12,2C#J 61,069 134.9931 225,273 134,9931 225,273 17 8,410 7.861 131,2031 1.502,411 278.481 1,223,930 Cash and cash equivalents at 31 March 1.471.208 1.502,411 All of the cash flows are derived trom continuing oaS during the above periods. The notes on pages 23 to 40 form an integral part of Ihe5e financial Statements. Page 22
Hull Truck Theatre Company Limited Notes lo the Financial Statements for the Year Ended 31 March 2025 1 Accounting policies Summary of significJnt a¢counting policies and key x¢ounting estimates The principal accounting policies applied in the preparats.on of these financial slalemenls are sel out below. These poliries have been ConSlent applie(J to all the years presented. unless otherwise stsled. Slat¢ment of compliance Hull Truck Theatre Company Limrted 1$ a company limited by guarantee and established in Englandlwales. In the event ol the charity being wound up, the Ikgbility in resFect of the guarantee is limrted lo £1 per mèmber of the charTty. The address of Ihe Wiste office is given In the References and Administrative details on page 1 of Ihese financial statements. The nature of the charrty's operations and principal activrtie5 are fvlty detailed in the Report of the Trustees. Hull Truck Theatre Company Limited meets the definon of a publ benefit entsty under FRS 102. The financial stalerrnts have been ppared in acwdance with Accounts"ng and Repong by Charities. Statement of Recommended Prath'ce lapplicable to charib.es preparing their accounts in accordance with the Finanual Rewrtin9 Standard applicable in the UK and Republi¢ of Ireland IFRS 10211 li55ued in October 20191 {Chants SORP IFRS 1Q211. the Financial Reporb"ng Standard applicable in the UK and Republ of Ireland IFRS 1021. the Charitses Act 2011. the Companies Act 2006 and UK Genefally Accepted Accounting Practtt. Basis of prepaiation The financial statements are prepared on a going concern basis under the historical cosl conventic. modified Ig indude ¢ertain items al tsir value. The finanoal statemenls are presented in sterling which is the fvnclional ¢urrency of the charity and rounded to the nearest £. Basis of ¢on$olidafjon The consolidated finanual slatenEnts consolidate the resum5 of the charity and ils wholly owned subsidiary undertaknngs on a line by line ba95 Using the xquisthon method. No statement of financial activiies is presented for the charity as pemitted by section 408 of the Companies Act 20CIS. Going concern The trustees have considered Ihe financial forecasts covering the Arts Coun¢ifs NPO renod 2023-26. plus the 202&27 extension year, together wth the group'5 reseryes and cash Ilow projecb'ons. The finanaal forecas15 have ien pwdendy prepared and any UnloSeen income reductions andlor expenditure increases will be supported by the Strong reserves base. Therefore. the loreca5ts show that the group will have adequate resources lo meel rts obligations as they fall due and lo conb.nue in operational existence lor a penod of al least 12 monlhs from the date of approval of these financial staternents. As a result. the Iruslees are of the view that the charty and grovp are a going conwn and the ffinanrAal statements have ljeen wepared on a 90ing concern bags. Page 23
Hull Truck Theatre Company Limited Notes to the Flnancial Ststements for the Year Ended 31 March 2025 Income and endowm¢nts All income 15 Yecognised once the charty or ils subsidiaries have entidement to the frjnds after any performance conditions have been met, It is probalAe that the income will be received and the amount of the income re1Vable can be measured rella1y. Oonations and legacies Donabons are recognised when the charitat4e company has been notifie(l in writing of both the amount and setNement date. In the event that a donation is subject lo ¢onditsons that require a bevel of performance by the Ghaw)table company bel(ye the chantable company is enknlled to Ihe funds, the income is deferred and not recognised until either those condthn5 are fvlly mel, or the fvlfilrnent of those conditions is wholty within the control ol Ihe ¢hantat4e ¢ompany and it is wobable that these condits"on5 will be luffilled in the ren9 period. Grants receivable Income from government and other grants. 7thelher capitsl or revenue. is recojnised when the ¢harity has ents"tlement to Ihe fvnds. any pertomance condits.ons attached to the granls have been met, it is probably that the Income w1 be received and the amount can be measured reliatty and is not deferred. Deferred income Incorne in advance of a theatrical perforrnare ¢y pYow5ion of other 5peufied service 15 deferred until the criteria for InCOff co9nrtIOD are meL Other trading activities Incorre from the sale of g¢)ods is renised when significant risks and rewards of ownership of the goods have transferred lo the buyer, the amount ol income can be measured reliabty. it is probauy that the econornic benefits associated vnth the transaction will Ilow to the chanty or its subsidiaries and the costs incurd or to be incurred in respect of the transaction can be measured Teliably. This is usually at the point of sale. Expenditure Expenditu is ¢3n1$e ¢)nce there is a al or construth.ve oblv4ab.on to that expenditure, it is probable settlement is required and the amount can be measured reliabty. Expenditure is accounted for on an accruals basis and ha5 been Glas5ified under headings that aggregate all cost related lo that category. Where Gosls cannot be diredy attrited to partLaT heading5 they have been allocated on a basis consistent the use of resoUrs. Expendrture is dassifietl under the ftAkn*ing headings.. Raising funds These comprise direct fijndraising costs. together Tth aslated suprth costs. Charitable a¢tlvirl•s Expenditure of charitable acb"wb"es indudes the difect costs of running the theatre and its associated operations, as well as SUprt costs relaknng to these acbvib"es. Page 24
Hull Truck Theatre Company Limiled Notes to the Financial Slatements for the Year Ended 31 March 2025 Otherexpertditurn Oiher trading ackn"v.es induijes the cost of sales and overhead5 IrrTed by the charity's events and catenng subsidiary. Support cosls Support cosis relate to those luncb.ons ihal assist Ihe work of the charty but do not direcuy undertake charitable actiwties. These irKJude back Offi costs. finance, personnel, payroll govemance costs. Governance costs These include the cost5 attributsWe to the charitable company's compliance wth wisb'ltjb'onal and ststutory requirements, induding audit. slralegK management Iruslees meetings and reimbursed expenses. Taxation The charity is exempt from corporab'on tax on rts income and gains to the extent they are applsed to its charitable aclNibes. Tangible fixed assets Tangible fixed asseis are staled al Cost lor deemed costl or valua1 less accumulated depreciation and accumulated impairment losses. Cost indudes costs directy attnbutable lo making the asset capable of operating as tended. Depreciation and amortisation DepclaI10n is Provided on tangible fixed assets so as lo write off the cost or valuation. less any esb'mated redal value. over their expected useful economic life as follows." Asset class Long leasehold Pfopety Freehold land and buiklings Improvements to property Fixtures, fitb'ngs and equ1pment Depreciation fflethod and rate over 50 years over 50 years 2% on cost 11>25% on cost Impairment of fixed assets Assets nol measured at fair vaue are re¥EV for any indicabon that the asset may be impaired at each balance sheet date. If such Indication exists. the recoverable amount of the asse( or the assevs cash generab.ng unrt. is estsmated and compared to the carrying amount. INhere the carrying arnount exceeds Its recoverable amJnt, an impairment loss is recognised in the statement of financial acbvilies unless the asset is carried at a revalued amojnt wthere the impair[rt loss is a revaluation decrease. Fixed asset investmènts Other Investrnents are measurell at cost less impaimient Page 25
Hull Truck Theatre Company Limited Notes to the Financial Ststements for the Year Ended 31 March 2025 Debto Tiade and other debtors are reCognd at the setuemenl amount due. Prepaents are valued al the amount prepaid. Creditt)rs and provisions Creditors and provisions are reccsnised where the ¢harty has a present oNTrgation resulting from a past event that will probably result In Ihe Iransfer of lunds to a third party and the amount due to setue the obligats'on can be measured rdia- C11015 and pmisions are nomially recognised at their settlerrenl arn(nt. Borrowings Loans and borrowings are initi'alty recognised at the transaction price including transaction costs. Subsequently. they are measured al amorb5ed cost using the effecbve interest rate method. less impairment. If an arrangement ¢onsts'tutes a finance transaction it is measured at present value. Fund structure Unrestncted ftjnds can be use(J in accordance with the charitatle objecb.ves at the discret of the trustees. Unrestricted designated funds comprise funds that have been set aside by the truslee5 for a specific purpose, as shown in the notes to the accounts. Restricted funds can onty be used lor partular restrthd purposes wthin the objects of the charity. Restnctions anse when specified ty the dtYKr or when funds are raised for parh"cular restricted purposes. Further explanat of the naturt and purpose of eath fvnd is induded in the note5 to the finanrial statements. Penslons and ether post relirement obligations When employees have rendered Service to the Company, short term empbyee benefits and temiination benefit5 to which the empk>yees are entslled are reccgnised at the undiscounted amount expected lo be paid in exchange for thal servi. The charity ¢)peraled a defined contn'.0n Flan for the benefft of ts employees. ConlributK)ns are expensed as they becorrE payat4e. 2 Income frorn donions and lega¢i•s Tolal 202S Total 2024 Da"OnS 35.998 33,901 Page 26
Hull Truck Theatre Company Limited Notes to the Financial Statements for the Year Ended 31 March 202S 3 Income from charitable aetivities Total 2025 Total 2024 Admission fees- tr4vn produth'ons Admission fees- incoming Pfoducli¢)ns Creab've. learng programme Artist development programme Co-producty'on in¢ome Spons)rship Grants (see anatysts below) 678,773 341,932 59,830 1,2 65,567 258,780 847,229 389.400 400.8B3 78,567 2S8,780 832,626 2,253.401 1,960.256 Grants received. inCded in the above are as follows.. 202S 2024 Arts Council Engld - National Portfclio Fundin9 Garfield West1 - Weston Culture Fund Hull City counl- Warm Space Grant AcsS to Works Grant Stage One Grant Theatre Worksl Sir Jaffles Reckitt Chanty 805.229 30,000 805.229 12,500 200 12.971 1.726 2,000 10.000 847,229 832.626 4 Income from other trading activilies Total 2025 Total 2024 Rental income Merchandise & prograrnTh* sales Events arnd catering income Corporate sponsorship ThiTd paty ticketing income Other income 30,600 4,246 79,709 7.613 11,345 33,265 42,891 4.294 58,725 7.138 7.194 31,315 166.778 151,557 P21
Hull Truck Theatre Company Limited Notes lo the Financial Statements for the Year Ended 31 March 2025 S Other Income Total 2025 Total 2024 Gains on Sale of tsngitle fixed assets 52,890 6 Expenditure on raising funds Alocated support costs Total 2025 Total 2024 Direct Costs Cests of generating dIatrOn$ and legacies 6.708 11.020 17,728 16.486 7 Expenditure on chaTit•ble a¢tlvili•$ Activity undtrtaken directy Activlty support costs Total expendlture Operation of theatre 1.292.414 1.197,510 2,489,924 Comparabve figUS 1.139,525 1,189,807 2.329.332 Page 28
Hull Truck Theatre Company Limited Notes to the Flnancial Statements for the Year Ended 31 March 2025 8 Analy$i$ of goveman¢e and support costs 2025 Raising funds 2024 Raising funds Devebpment Saries 11.020 12,655 2025 2024 Operation of Operation of theatre theatre A11minislrabon and operations Salaries AdministratKJn CommunicatKJns and box office Buildings and premise5 Depreciation, 8morb'sation and olher sin¥lar costs VAT recoverable Theatre tsx lief Governance costs 762,776 150,132 194,075 213,303 129,242 133,4861 1248,2851 29,753 711,332 142,373 168.708 208.339 131.592 141.2321 1158,3181 27.013 1,197,510 1.189,807 Governance costs Total 202S Total 2024 Auditors. remunerats'on Twslees, eXnSeS Legal fees 17,820 15,838 95 11,080 11,933 29,753 27.013 Page 29
Hull Truck Theatre Company Limited Notes to the Financial Statements forthe Year Ended 31 March 2025 9 Nel ineomingloutgoing resources Net incorninglloutyoingl resources for Ihe year indude.. 2025 2024 Operating leases- equipment Operating aseS- trNJikling Audit fee5 Profit on disposal ol tsngible fixed assels DepreGalion of fixed assets 12,819 15.000 17.820 13.141 15.000 15,838 152,8901 131,592 129,242 10 Trustees remuneratlon and expenses For the year ended 31 IAarch 2025 L Elgwthy received remuneratson 01 £8,649 for her role in Mary and the Hyenas as well as £1% in pension contnbuts"ons12024". £NIL}. No remunerab.on was paid lo any trustee in spect of their posibon as a trustee. The amount of reimbursed travel expenses paid to trustees in the current year was £NIL12024'. £5121. 11 Staff costs The aggregate payroll costs were as fdlow5". 2025 2024 Staff Costs durlng the year were: Wages and sae5 Social secunty costs Pension costs 927.164 76.565 18.823 856,984 68,777 17.209 1.022,552 942,970 The monlhty average number of person5 employed durirwJ the was as folk)ws". 2025 2024 No Average numter 51 53 Paje 30
Hull Truck Theatre Company Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Key managernent petsonnel of the entity The number of employees whose emohjments fell wthin the fdlowng bands was" 2025 No £60,(K11- £70,000 2025 2024 Total employee beneffts paid to key management personnel Number of employees 290,034 288,699 12 Comparatives for the statement of financial activities Unrestricted DesigTrated funds lunds Kesiricttd funds Total 2024 Note Incomè and Endowfflents from: Donations an¢J legacies Charitsble activities Other trading activrties Other income 33.901 1.960.256 151.557 52.890 33,901 1,960,256 151,557 52.890 Total income 2,198.604 2.198.604 Expenditure on- Raising funds Charitable acbvrties 16,486 2.145.256 16,486 2.329,332 43,816 140.260 Tolal expenditu 2.161.742 43.816 140.260 2.345,818 Net incomellexpenditure) Transfer5 beeen funds 36.862 22.890 143,816) 22,890 (140,2601 1147,214} Net movement in lunds 13.972 120.926) 1140.2601 1147,214} Reeonciliation of funds Total lunds brought forward Tokl fijnds carried forwaid 22 897,758 424.950 13.212.579 14.535,287 911,730 404,024 13,072,319 14.388,073 Page 31
Hull Truck Theatre Cornpany Limited Notes to the Financial Statements for the Year Ended 31 March 2025 13 Tangible fixed as$ets Group Leasehold land and buildings Fix1ures. rfftings and Impro¥em•nts e9uipmenl to property Total Cost At 1 Apnl 2024 Additions 14,814,C 1.294.414 34.993 28,074 16,136,494 34,993 At 31 March 2025 14,814.006 1,329,407 28,074 16,171,487 Dopr¢ciation At 1 April 2024 Charge for the year At 31 March 2025 1,795.322 122.637 1,281,337 4.804 15,559 3,092,218 2,IX1 129,242 1,917.959 1.285.941 17,560 3.221,460 Net INk valu• At 31 March 2025 12,896.047 43.466 10,514 12,950.027 At 31 March 2024 13.018,684 13.077 12.515 13,044.276 Charitable c¢mpany Fixtures, fthings and Improvements equipment to property Total Al 1 Apnl 2024 Additions 751,005 34.993 10.082 761,087 34.993 At 31 March 2025 785.998 10,082 796,080 Depr•ciatlon At 1 Apnl 2024 Charge for the year At 31 March 2025 751.005 3.499 2,813 2Q2 753,818 3,701 754.504 3,015 757,519 Net book value Al 31 March 2025 31,494 7,C67 38,561 Al 31 March 2024 7.269 7,269 Page 32
Hull Truck Theatre Company Limited Notes to the Financial Slatements for the Year Ended 31 March 2025 14 Foxed asset investments Charitable company Subsidiary undertakings Cost At 1 April 2024 At 31 March 2025 210 210 Net book valu• At 31 March 2025 210 Al 31 Maich 2024 210 Details of undertaklngs Detai15 of undertaklngs DeLii15 of the invesbnents in vthi¢h the charitable company hold5 20% QT more of the nominal value of any dass of share ¢ap+'lal are as follows". Country of incorpotiOn Proportlon of voting rights and shares held 2025 2024 Principal activity Undertaking Holding Subsidiary undertakings Hull TruGk PrUCtiOnS EngL3nd and Limited Wales Ordinary 100% 100% Perforrring Arts L1 Truck Entsrpri5e5 England and Wales Ordinary 100% 100% Operation of arts facilib.es Hull Truck Events and England and Catering Limited Wale5 Events and alerin9 actiMtY4s (>dinary 100% 100% The results of these companies a summarised in note 24. Page 33
Hull Truck Theatre Company Limited Notes to the Financial Statements for the Year Ended 31 March 2025 15 Debtors Group Charity 2025 2024 2025 2024 Trade debtors Due fTOrn group undetskings Prepayments Other debtors 71,564 43.574 45.868 302.012 147,952 68.411 28.419 195,653 151,128 11,488 149.101 297.717 152.965 152.363 518,382 348.902 564.243 386,688 16 Credltors.. amounts falllng due Twlthin ¢)n¢ year Group Charity 2025 2024 2025 2024 Trade creditots Loan5 Due lo group undertaknngs Other taxation and socaal security Other cieditws Ac£nJals and defeThed incorr 119,010 8,928 134.5 .410 117.646 133,840 8.991 23,345 5,785 399.643 18.443 4,236 286.695 17,105 5,789 395.314 16,044 4,236 277,761 556.715 452.284 542,848 440.872 D•f¥rr•d income Included in accruals and defewred incoffe are deferred income balarbces as follows.. Group and Charity 2025 2024 Deferred income at 1 April 2024 Resources deferred in the penod Amounts released from PviouS pemds Deferred income al year end 177,435 231,011 177.435 133.564 177,435 133.5641 231,011 177,435 Oelerred income comprises the fdkJw"ng'. 2025 2024 Box office reeeipls in advance Deferred grant 213.511 17.5CK) 159,935 17.500 231.011 177,435 Page 34
Hull Truck Theatre Company Limited Notes to the Financial Statements for the Year Ended 31 March 2025 17 cditOrS. amounts falling due after on¢ year Group Charity 2025 2024 2025 2024 Loans 46.304 55.232 18 Borrowings GfOUP Charity 2025 2024 2025 2024 Hull City Council l¢Jan Within 1 year Within 1-2 years Within 2.S years After 5 years 8,928 9.480 32.094 4.730 55.232 8,410 8.929 30.229 16.074 63,642 The Hull City Covn¢il Loan is repayable ty Instaments and is due to be Paid in March 2030. Interest 15 charged on this loan at 0.75% above base raie. 19 Leasing agreements Total fijlure minimum lease payments under nonwcancellable operating leases a as follows. Group Charity 2025 2024 2025 2024 Within one year BetwEen one and five years After five years 10,896 43.584 99,880 154.360 14,066 43.584 110,776 100,696 403,584 924,880 1.429,360 104.066 403.584 1,025,778 1.533,426 168,426 20 Pension commitm•nts The group operates a defined contn"bution penSn scheme. The drge to Ihe profit and loss account for the year in spect of contn"bulK)n5 Paydble lo the scheme amounted to £18,82312024- £17.209I. Contributions lotalling £5.785 12024 - £4.2361 were payable lo the scheme at the end Qf the year and are induded In cre¢Jilors. Page 35
Hull Truck Theatre Company Limited Notss to the Financial Statements for the Year Ended 31 March 2025 21 Comrnitments Group and charitabk ¢¢mpany aphtsl ¢ommllments The total amount conlraeted for but not provKled in the financial statements was £Nil 12024 £34,993). 22 Funds Group Balance al I April 2024 Incoming resource5 Resources exppnded Balance at 31 March 202S Unrestrl¢ted funds G•naral General fijnd 911.730 2.456.177 12.367.323) 1.000.584 Designated Repairs and neWS ProduclKJn and artistic C05t5 Staffing and inclusion costs Capital projects and foyer Re¥iltence reserve Produ¢tKJn equipment 38,894 170,01)0 39,727 86,453 66,987 1,963 {5.3471 33,547 170,000 34,927 86,453 66,987 1,963 (4,81KtI 404,024 10.147 393,877 Total unrestrlcted funds 1.315,754 2.4.177 2.377,470 1,394,461 Restricted funds British CouncJl R&D ACE Catalyst Ferensway Theatre Development 1,B44 44.245 51.790 17.5451 13.018,685 122,637 12,896,048 Totsl vestri¢t¢d funds 13.072,319 130,182 12,942.137 Total fvr 14.388,073 2.456.177 (2.507.652) 14,336.598 Page 36
Hull Truck Theatre Company Limited Notes to the Financial Statements for the Year Ended 31 March 2025 Comparative movement in funds Balance at 1 April 2023 Balance at 31 March 2024 Incoming resources Resources expended Transfews Unr•strided funds General General fund 897.758 2,198.604 12.161.742) {22,B901 911.730 Designated Repairs and renewa15 Production and artsstic costs Staffing and Indon costs Capital projects and loyer Digital innovation Resilience reserve Prodvdion equipment 41,132 {30,7791 28,541 38.894 2LWJ,000 170,000 39.727 33.563 28.541 66.987 15.000 39.727 86,453 52.890 128.541) 66,987 1,963 404,024 {13.037) 43,8161 424.950 22,890 Total unrestricted funds 1.322.708 2.198,604 2,205,558 1,315,754 Restrict•d funds British Council R&D ACE Catatyst I AM Fund - Outreach Youth Theal Fefensway Theatre Oevelopmenl Total restricted funds 16.000) {3,937) 1,844 51,790 55,727 17.686) 13.141.322 122.637 13,018,685 13.212,579 140.260 13,072,319 Total funds 14,535,287 2.198,604 2.345.818 14,388,073 Page 37
Hull Truck Theatre Company Limited Notes to the Financial Stalements for the Year Ended 31 March 2025 The Sper purposes for whth the fund5 we to be applied are a5 foll lal The general fijnds present the funds of ihe grcJp Wh are not designaled for any partular purposè. bl The éesignaled fiJnd5 have been set aside out of the unre5tn.cted fvnds by the trustees for the specific purposes lisled. 1¢) The British Coun[ Research and Development fvnding has been prOded lo support the 'Lazaru$ Project,. This is joint projecl en Hull Twck Theatre and Freedom Festival and will result in performances al various Hull city centre sles. Idl ACE Catalyst funding is a grant from Arts Council EngLand under its Catalyst.'Evolve prograrnrne which supports organisations that have recntly slarled fundraising to achieve step change in their ability to eam philanthropic income. lel The l AM Fund provKled a grant from the HEY Srnile Foundatson to support the provigon of oLeaCh Youth Theatre. (Q The Ferensway Theatre Development lund represents grant5 from Arts Countsl England. Hull City Council, the European Regional Developrnent Fund and Yorkshire Forward and a donation from Humber51dÈ Theatre Trust Limited to lund the pUhase of the group's lea5ehc4d property and certain fixtures, fitting5 and eqLtipment. This reslricted will be expenses over a number of years as the capitsl eost of the related assets is depreciale<l. 23 Related party trnnsactions In the year ended 31 March 2025 an annual subsCriptn of £4,296 d$ p8O to UK Theatre of which Janthi Mills-ward ICEOI is a tTUStee12024." £4.152}. Page 38
Hull Truck Theatre Company Limited Notes to the Financial Slatements for the Year Ended 31 March 2025 24 Details of subsidiary undertakin95 . Hull Truck Enterprises Limited The charty owns the whok of the issued ordinary share Capi& of Hull Truck Enterprises Limited, company gistered in EngL4nd. The subsidiary ha5 been used lo facilitale the developrnenl of the new Hull Truck Theatre building. All adivibes have been consolidated on a line by line basis in the SOFA. The total available distributable reserves a gilted to the charrty- A summary of the results of the subsidiary is shown bd¢M. 2025 2024 TuirThieT Administrative exFtnses 90.000 130,885 90,000 131,863 Gross1055 other operatsftg Incoff {40,88SI 128,693 141,8631 127,676 Net profit 87,808 85.813 The aggregate of the assets, liabilities and funds w*$: A55ets LiabilitEs 13.09S,782 12.953.325 13.222.153 13,084,726 Aggregate called up share capitsl and reserves 142,457 137,427 Hull Truck Events and Caterlng Llmited The charty s)wns the whole of the issued Ordinary share capital of Hull Truck Evenis and Catering Limited. a company registered in England. The subgdiary is used for the operat¢on of the iheatre's bar and catering lacilities and the hirin9 of fa¢ilth'es for the purposes of events. Al activities have been consolidated on a line by Irne bas4$ in the SOFA. The lotal available dis(n"butsble re5eryes are gifted lo the ehanty. A summary of the resulls of the subsidwy Is Shown befow. 2025 2024 Turnover Cost ol sales 79.709 120.0991 58.725 14,710 Gross loss Administrabve expenses Net profit The aggregate of the assets. liabilities and lunds was: 59.610 3,682 44,015 3,060 55.928 40,955 142,205 86,177 107,742 66,687 Liabilitie5 Aggregate called up Sha capkl and reseNes 56,028 41,055 Page 39
Hull Truck Theatre Company Limited Notes to the Financial Stalements for the Year Ended 31 March 2025 Hull Truck Productlons LIMlt¢d The charity owns the whole of the issued ordirwy share caprtal of Hull TNck Pr&auct*ons Limited, a company registered in England. The subgdiary is used for Producing, running and c105ing theatrical pro¢lu¢b¢ns. All ath'vitses have been consoh"dated on a line by I"ne tosis tn the SOF A summary of the results of the Subdiary is shown below. 202S 2024 Turnover Cost of sales 651.105 {876.8281 443.170 581,725 Gross kjss Tax on loss (225,7211 225.721 1138,5551 138,555 Net profbt Th¢ aggregate of the assets, liabilities and fvnds was: A5se15 Liabilities 225,721 1225.7211 138.555 1138.5551 Aggregate called up share capital and reserves 25 Net incoming reS0f¢eS of parent chalilable company As permilted by Paragraph 397 of the SORP. ihe staternenl ol Fmancial Activiti"es of the parent charitsble company is not presented as part of these financial statemenls. The parent ¢haritable company's net Incoming resources for the year to 31st Marth 2025 was £14,273 {2024'. nèl outgoing resour¢es £30,650). Page 40