2025-03-31-accounts

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Company Registration No. 01396429 (England and Wales) Charity No. 276892

Kiln Theatre

Trustees’ report and financial statements for the year ended 31 March 2025

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Kiln Theatre

Company information

Trustees	Phillippa Adamson
	Letitia Bain (appointed 25 June 2025)
	Aleksandra Barnes (appointed 25 June 2025)
	Michael Berg
	Sabine Chalmers
	Louis Charalambous
	Stacy Coyne (appointed 4 April 2025)
	Heather Doughty
	Natasha Gordon
	Katie Haines
	Alastair Levy
	Maimuna Memon (appointed 4 April 2025)
Company Secretary	Iain Goosey
Company number	01396429
Charity number	276892
Registered office	269 Kilburn High Road
	London
	NW6 7JR
Executive team
Artistic Director / Chief Executive	Amit Sharma
Executive Director	Iain Goosey
Independent auditors	Nyman Libson Paul LLP
	124 Finchley Road
	London NW3 5JS
Bankers	HSBC
	50 – 52 Kilburn High Road
	London
	NW6 4HJ

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Kiln Theatre

Contents

	Page
Trustees’ report	1-18
Independent auditors’ report	19-21
Consolidated statement of financial activities	22
Balance sheets	23-24
Consolidated statement of cash flows	25
Notes to the accounts	26-40

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Trustees’ report For the year ended 31 March 2025

Kiln Theatre

The Trustees (who are also Directors of the Company) present their report, together with the audited financial statements of the charitable company, for the year ended 31 March 2025.

1. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The charity has the general aim of using different art forms to entertain, educate and stimulate audiences, participants and users to contribute towards a more cohesive community.

In undertaking our charitable aims, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’.

Kiln Theatre is the creative and cultural hub of Kilburn in Brent, a uniquely diverse area of London where over 140 languages are spoken.

Kiln is a place of creative transformation and artistic ambition – an empowering space where community connection sits at the centre of everything we do. From the heart of Kilburn, we stage an internationally acclaimed programme of UK premieres and dynamic revivals - human stories that entertain, fire the imagination and reflect the world around us.

We believe that theatre can be for anyone, and our doors are open to all. A neighbourhood venue shaping national conversation.

Our Vision

To ignite artistic imagination through diverse storytelling that reflects the richness of our world. Kiln is a space where we celebrate our shared humanity, build a powerful sense of belonging and demonstrate that Draft theatre can be for anyone.

Our Mission

From the heart of Kilburn, we tell real human stories shaped by exceptional artists – harnessing the power of creativity to remove barriers, celebrate individuality and bring people together.

Strategic Plan

Kiln Theatre’s Strategic Plan sets out the organisations objectives and are set around the following main areas of activity:

• Theatre programme

• Creative engagement programme with young people and local communities

• Cinema programme

Artistic Vision and Activity

In the pursuit of our Vision, we seek out plays that are provocative and entertaining; plays that ask questions about identity and our shared humanity in a way that speaks to a wide range of local residents, Londoners and people from further afield. We are committed to continuing to make this work accessible and affordable for our audiences, offering West End quality work at Kilburn prices. Actors, creatives and production staff choose to make work at and for Kiln Theatre, with many returning again and again, because they feel a strong sense of belonging. This is a reflection of both the high calibre of our team and the strength of the relationships with local communities and audiences. We are also committed to nurturing the talent of young people and providing a platform for their voices to be heard whilst working with older people to create a thriving community around our theatre.

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2. ACHIEVEMENTS AND PERFORMANCE

>Theatre programme

2024/25 marked Amit Sharma (Artistic Director/CEO) and Iain Goosey’s (Executive Director) first full year in post as the Executive team of Kiln Theatre. 2024/25 has been a year of artistic and financial consolidation, under the organisation’s new leadership, with positive steps made towards delivering long term sustainability. Across the year we welcomed over 47,000 audience members across six Kiln shows, delivering over £950,000 at the box office, increases in both instances on 2023/24. The year was also bookended by two West End transfers ( Two Strangers [Carry a Cake Across New York] and Amit Sharma’s production of Retrograde ) demonstrating the quality of Kiln’s productions and the commercial appeal and reputation of a venue staging West End ready work. Outside of the theatre auditorium, a new entertainment offering of talks, Q&A’s and book launches (with some of the country’s top writers, thinkers and academics) was launched in our Cinema space and Kiln’s award-winning Creative Engagement team continued to deliver a wide range of programmes for those who live or work in Brent.

1. The Ballad of Hattie and James

by Samuel Adamson, directed by Richard Twyman 11 April - 18 May 2024

★★★★ ‘A moving, music-drenched drama’ Time Out

★★★★ ‘Spellbinding…note-perfect’ The Telegraph

★★★★ ‘A sweeping symphony of sexual identity and music’ The Independent

Draft

Co-produced with English Touring Theatre, this world premiere Kiln commission of Samuel Adamson’s play received an excellent critical and audience reception. Directed by Richard Twyman (ETT’s Artistic Director), and starring Sophie Thompson and Charles Edwards, The Ballad of Hattie and James told an epic, lifespanning tale of friendship, music, and the moments that change us forever.

2. English

by Sanaz Toossi, directed by Diyan Zora 5 June - 6 July 2024

★★★★★ ‘Dazzling, clever and moving’ The Times

★★★★ ‘A whole, rich world inside this single classroom’ The Stage

★★★★ ‘Engaging, provocative and moving’ WhatsOnStage

This Pulitzer Prize-award winning Royal Shakespeare Company production, presented in association with Kiln Theatre, told the story of four adult classmates as they grappled with learning English as a foreign language in a classroom in Iran. This comic and deeply moving play explored the power of language as the characters came to realise that there is more to their lives than can ever be uttered through language. English at Kiln Theatre was nominated at the 2024 Olivier Awards for Outstanding Achievement in an Affiliate Theatre.

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Trustees’ report For the year ended 31 March 2025

3. Peanut Butter and Blueberries

by Suhaiymah Manzoor-Khan, directed by Sameena Hussain

8 Aug - 31 Aug 2024

★★★★ ‘An immediate, emotionally-charged debut’ The Telegraph

★★★★ ‘Funny and refreshing take on a romantic comedy’ The Stage

★★★★ ‘Engaging and intimate…with characters you’re desperately rooting for’ WhatsOnStage ★★★★ ‘A timely reminder that hope must be stronger than hate’ The Arts Desk

Written by first time playwright Suhaiymah Manzoor-Khan in a Kiln commission directed by Sameena Hussain, Peanut Butter and Blueberries explored a modern love story between two Muslim students who found love when the weight of the world was on their shoulders. The play opened to critical success against the backdrop of racist summer riots across the country, which Suhaiymah reflected upon in her piece for The Guardian. Peanut Butter and Blueberries was nominated for Best New Play at the 2024 UK Theatre Awards.

4. Pins and Needles

by Rob Drummond, directed by Amit Sharma 19 Sept - 26 Oct 2024

★★★★ ‘Powerful’ The Telegraph

★★★★ ‘Incisively directed and cleverly written’ The Reviews Hub ‘A sleek story of debate and denial’ The Guardian Draft

‘Stylish, intelligent, politically charged’ WhatsOnStage

This UK premiere and Kiln commission by Rob Drummond, directed by Amit Sharma, marked the opening of Amit’s first season as Artistic Director. Pins and Needles explored the politics around vaccines, and the human stories behind them – as Rob Drummond put science and scepticism to the test. This inventive and powerful new play felt particularly prescient against the backdrop of the rise of populist vaccine scepticism.

5. The Purists

by Dan McCabe, directed by Amit Sharma 14 Nov - 21 Dec 2024

★★★★★ ‘Deeply entertaining’ The Reviews Hub ★★★★ ‘Marvellously directed’ The Stage

★★★★ ‘Provides some effortless cool in contrast to…our usual pantomime offerings’ WhatsOnStage ‘Oozing charm’ The Guardian

Queens came to Kilburn in autumn 2024 in the UK premiere of this critically acclaimed US comedy by Dan McCabe - directed by Amit Sharma. The production featured DJ sets, rap battles and unforgettable beats in an exploration of colliding New York subcultures. The company delivered ‘note-perfect performances’ (The Times) and featured a knock-out design by Olivier-Award winning Designer, Tom Piper.

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Trustees’ report For the year ended 31 March 2025

6. The Lonely Londoners

by Sam Selvon adapted by Roy Williams, directed by Ebenezer Bambgoye 10 Jan - 22 Feb 2025

★★★★★ ‘Sensational’ The Telegraph

★★★★★ ‘Tremendous’ The Guardian

★★★★★ ‘Exceptional’ Time Out

★★★★★ ‘Outstanding’ Morning Star

★★★★ ‘Rich, superb performances’ Financial Times

The critically acclaimed adaptation of this iconic novel transferred to Kiln Theatre following its premiere at Jermyn Street Theatre. The Lonely Londoners by Sam Selvon, adapted by award-winning Roy Williams OBE featured ‘rich, superb performances’ (Financial Times) of memorable characters who opened a window into the hopes, dreams and realities of the Windrush generation. The Lonely Londoners extended its sold-out run becoming Kiln’s fourth best-selling show of all time.

Kiln Theatre in the West End

Two Strangers (Carry a Cake Across New York)

by Jim Barne and Kit Buchan, directed by Tim Jackson 4 April – 31 August 2024

★★★★★ ‘It’s a charmer’ The Guardian Draft ★★★★★ ‘An irresistibly sweet treat’ The Telegraph ★★★★ ‘Gem of a show’ The Independent

This smash musical, starring Sam Tutty and Dujonna Gift became an instant hit on its opening at Kiln – becoming the organisation’s best-selling show of all time. The Kiln production transferred to the Criterion Theatre in the West End in April 2024 for a critically acclaimed run.

Retrograde

by Ryan Calais-Cameron, directed by Amit Sharma 8 Mar – 14 Jun 2025

★★★★★ ‘Must-see theatre’ The Telegraph

★★★★★ ‘Faultless’ WhatsOnStage

★★★★ ‘ An instant classic’ Time Out

★★★★ ‘ A wickedly funny 90 minutes’ The Standard

★★★★ ‘ Brilliantly tense’ The Independent

Following a sold-out, critically acclaimed run at Kiln, Amit Sharma’s production of Retrograde transferred to the Apollo Theatre in the West End in spring 2025. Inspired by real events, Retrograde captured a pivotal moment in the life of trailblazing actor Sidney Poitier. Ivanno Jeremiah returned to play the iconic role and was joined by Stanley Townsend and Oliver Johnstone. Produced by Nimax Theatres and double Oscar and BAFTA nominee Colman Domingo, the play opened in the West End to universal acclaim.

>Audiences and Sales

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‘‘Incredible theatre. I really feel the venue supports innovation and originality and sets the bar very high indeed for production and performance. It also embraces the community, many of whom were having a drink alongside ticket holders after the show.’’ Audience feedback, 2025

The 2024/25 season marked an exciting new chapter for Kiln Theatre, as Amit Sharma led his first season as Artistic Director and CEO. The year saw continued artistic and financial success, with The Lonely Londoners standing out as a major highlight. Adapted from Sam Selvon’s novel in a co-production with Jermyn Street Theatre, it achieved 125% of its revised financial target, generating £349,329 in value sold with an impressive average ticket price of £26.13. It is now ranked as the fourth highest-grossing production in Kiln’s history, following Two Strangers (Carry a Cake Across New York) , White Teeth , and The Wife of Willesden , and surpassing Blues in the Night which now sits in fifth position.

Overall, last year’s theatre season featured a broad and ambitious range of productions, with several standout successes contributing to a strong overall performance. The season achieved 99% of its revised, increased financial goal, with a total of £953,263 in value sold – an increase on last financial year. Notably, both English and Peanut Butter & Blueberries significantly exceeded their income targets, reaching 195% and 179% respectively. The season built on last year’s yield by getting to £18.70 and saw 47,315 tickets sold across all six productions.

We undertook a unique grassroots campaign in particular for Peanut Butter & Blueberries , given the themes (a modern Muslim love story), which yielded extraordinary results. The performance time was changed to accommodate the Maghrib prayer alongside the addition of a designated prayer space and alcohol free performances all of which helped us attract a majority Muslim audience - many of whom were watching a theatre production for the first time. The production achieved a 70% first time booker Draft percentage and attracted one of the youngest audiences Kiln has ever had. Following the production, Kiln has committed to programming dry (alcohol free) performances for all shows going forward.

“I’ve never seen a play like this about Muslims and as a Muslim that was really special. It was also such a nice feeling looking around the theatre and seeing so many Muslims and people of colour in the space. I also loved having a prayer space, it made me feel I could show up as my whole self.” Audience feedback on Peanut Butter and Blueberries

In 2024/25, 58% of customers bought a Kiln ticket for the first time. Hyperlocal audiences increased to 33% (+7%) for preview attendees and 28% overall (+2%), indicating consistent growth. We subsidised over 1,300 tickets to Brent & Camden Residents, 3,000 tickets to young people under 26 years old, 700 tickets to students, 600 tickets to NHS members of staff and 450 tickets to our Creative Engagement network.

>Artistic Development and Commissioning

During 2024/25 Kiln engaged over 200 contractual or freelance people to work on our artistic and creative engagement programmes - covering actors, creative teams, creative engagement practitioners, technical staff and other contractual roles. The significant number of freelancers engaged for 2024/25 continues to demonstrate Kiln’s important role as an employer within the arts industry.

At Kiln, we enrich the UK theatre landscape by developing emerging talent, particularly artists from Global Majority and disabled backgrounds. We nurture talent and develop pathways whilst celebrating diversity and removing barriers – driving world-class theatre and opening up opportunities for who gets to make it. To this end, Kiln continues to develop an exciting and diverse portfolio of commissioned playwrights some of whom include Amy Trigg, Zodwa Nyoni, Ishy Din and Suhayla El-Bushra. At a time when new writing

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opportunities are diminishing, Kiln offers full dramaturgical support via Amit as Artistic Director and a designated Literary Associate throughout the commissioning cycle. As many of these plays move into production here at Kiln Theatre, we will be issuing new commissions as part of Amit’s tenure as Artistic Director.

The Kiln-Mackintosh Resident Assistant Director programme continued into a second year following a successful pilot in 2023. Local director, Imy Wyatt Corner, was appointed as the Kiln-Mackintosh Resident Assistant Director for 2024/25 following a highly competitive recruitment process (following receipt of over 600 applications). Imy assisted on four productions at Kiln and gained invaluable experience across the full ecology of the Theatre and precious insight and connections whilst at Cameron Mackintosh Ltd. She leaves the programme with an impressive slate of upcoming work, including directing a production at the Arcola Theatre and developing a new play as part of the Michael Grandage Company bursary.

Kiln have also supported three new writers - Aine Mcnamara, Philip Ofe and Carina Chatlani – via seed commissions. They have received dramaturgical support from Kiln’s Artistic team and will have the opportunity to share their work at a rehearsed reading.

>Creative Engagement programme

Our award-winning Creative Engagement programme sit at the heart of Kiln Theatre and our mission to harness the power of creativity, remove barriers, and bring people together. Our projects support local people to see shows, be creative and access the industry. Last year we engaged over 1400 individuals of all ages across 306 creative workshops and offered 829 hours of training. We supported 446 people to perform on our stages and 100% of participants on our projects said that taking part had improved their confidence.

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1. Creative Programmes

Arrive Build Create

Currently in its 19[th] year running at Kiln, this flagship project this year welcomed 103 newly arrived young people from English as an additional language courses at Claremont High School Academy, Queen’s Park

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Community School and colleges of North West London. The programme delivered creative drama workshops each week, working towards a theatre sharing in spring and making a film in the summer term.

100% of participants said they felt proud of what they had achieved.

89% of participants assessed at the last day of the project rated themselves as confident - very confident in working with others.

85% of school participants said that drama has helped with their school learning.

70% of school participants assessed on the final day of the project rated themselves as confident - very confident in speaking English.

The project also supports further pathways for participants. This year we supported two Alumni students; Yazan Al Nasser and Vivienne Kuruciva were previously participants from the college groups in 2024 and joined the Arrive Build Create programme as Trainee Facilitators. They developed skills in leadership, communication and facilitation. Since being part of the programme, Yazan went on to become an Assistant Facilitator as part of the Arrive Build Create Young Company, and has recently been employed as a Front of House Assistant at Kiln.

Draft

We ran the Arrive Build Create Young Company as a two-week intensive programme in July 2025, led by a professional facilitator and movement director Hamza Ali. The programme offered the opportunity to further develop their English language skills and learn about performing and movement in a more professional environment.

Schools Residency Project

We believe that local young people deserve to have access to a high quality drama curriculum, learn about plays that represent them, and have access to careers and pathways into the arts industry.

This year we worked with Claremont High School and Alperton Community School across the full academic year with classes for year 10 drama students. 47 students received free tickets to see shows at Kiln and had bespoke workshops with actors, designers, stage managers, lighting designers, sound designers, directors from the shows to talk more about their creative processes and how they got into the industry.

In their final terms, Claremont School worked with Kiln’s in house Associate Director to develop their GCSE drama pieces, performed at Kiln with support from our production team. Alperton worked with freelance director Charlotte Peters on their production of An Inspector Calls . Charlotte had previously directed the National Theatre tour of the show.

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Youth Theatre and Young Company

We run weekly drama sessions at Kiln for 37 local young people aged 12-15 and 16-18 throughout the academic year. This year the 12-15 year old group devised their own show, Whispers of Freedom , exploring themes of power, lies, truth and the media, and was performed for friends and family on the Kiln Cinema Stage in February 2025. In the spring terms, the group created a mockumentarystyle film about life behind the scenes in a theatre, inspired by the Kiln production of Shanghai Dolls , which they saw in May 2025. The young people developed filmmaking and directing skills and the

final piece, which they devised, co-directed and starred in, was screened in the Kiln Cinema in July 2025. The older 16-18 year old group worked towards a professional, full-scale production on the Kiln stage, engaging with a mature text, The Maladies by Carmen Nasr. Participants were supported to explore the play’s complex themes and performed to an audience of friends, family, and the general public on the Kiln mainstage on 30 and 31 May 2025.

100% reported an improvement in confidence

100% of participants reported a positive change in wellbeing

93% of participants reported making new friends Draft

2. Pathways

Fullworks

We delivered a weeklong intensive training programme during the February half-term. 15 young people from schools in Brent, Barnet and Westminster took part in bespoke careers workshops covering directing, marketing, writing, audition techniques, set design and stage management. Attendees included alumni of Kiln programmes such as Arrive Build Create and School Residencies, as well as young people engaging with Kiln for the first time.

100% of participants assessed on the final day said they felt confident in their knowledge of Theatre roles after completing Fullworks

83% of participants assessed on the final day said they felt confident - very confident in the creative career path they would like to take after completing Fullworks.

100% of participants assessed on the final day said they would recommend Fullworks to young people interested in Theatre.

We also offered a series of free workshops to two local schools to develop interests in directing, audition techniques, set design and stage management. We welcomed 65 young people for these half day workshops to inspire them to take Drama GCSE and understand about the many varied roles in the industry.

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Placements and Training

We hosted three placements this year within the Creative Engagement department, each lasting between six and nine weeks. These provided students with administrative and project support experience across the full range of Creative Engagement activity, building practical office and project management skills alongside gaining an insight into facilitation and engaging with communities. We also ran our own yearlong training programme for 10 local people with bespoke training workshops and hands on experience of assistant facilitator and assistant producing experience across all our programmes. The training programme has paid London Living Wage to those taking part to learn and support their entry into the industry without going through further education routes.

Backstage Workshops and Teacher Previews

We delivered five free Backstage Workshops for local secondary school groups. These sessions provided a practical opportunity for students to learn about backstage theatre roles and how they are instrumental to the smooth-running of any production.

Our teacher previews are hosted during the previews of all the shows we programme and offers free tickets and a space to network for local teachers. This provides an opportunity to connect with us, and to see the shows before bringing a school group. This year we offered 70 free tickets to teachers.

3. Communities

Talks and Tours

This year we collaborated with Casa Latina, Young Shubbak, My Romania, and The Irish of Kilburn to

produce takeover Town Hall Talk events at Kiln, to showcase their work Draft in the local community, through panel discussions, performances and workshops.

We hosted 4 Tickets, Teas, and Tours events, where we welcomed community groups to have a bespoke backstage tour, led by our professional production and creative team, and sit down for a cup of tea and a chat, before seeing the show. These events demystify theatre and give insight into the behind-the-scenes of a show.

Masterclasses give the general public the chance to take part in a series of workshops focused on a different specialism in theatre. Our Resident Assistant Director, Imy Wyatt Corner, led an introduction to directing masterclass, and our Associate Artistic Director and Playwright Tom Wright led a session on playwriting.

Working with older adults

This year we ran an adult version of the Arrive, Build Create programme aimed at adults and older adults who are newly arrived, looking to develop their English language skills, drama skills and find an opportunity to meet new people. The group of 10 women met weekly to share food, act and connect, and presented an end of term sharing to a group of invited friends and family.

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Trustees’ report For the year ended 31 March 2025

Move at the Movies ran for the second time this year, welcoming 15 older adults living with a health condition. The fortnightly sessions explored dance, film and heritage, culminating in an end of term performance.

Each month we also host a Dementia Friendly Screening in our cinema, welcoming between 50-100 older adults living with dementia.

Celebrating our Stories: Kilburn High Road Project

In our second year of this three-year ambitious heritage project, we’ve worked with 750 local people to explore

local heritage through creative means. Producing is underway for next year’s community festival which will be the culmination of a wide range of projects including a large-scale community production on Kiln’s mainstage. The Kilburn High Road Project aims to engage 8,000 people to celebrate the rich and diverse heritages of Kilburn.

Sponsor a Ticket

This year we’ve given 679 free tickets to local people to see shows on our main stage. Through our Sponsor a Ticket scheme we offer free tickets to specific groups and individuals in order to break down the financial barriers to attend Kiln shows.

>Cinema and Events

Kiln Cinema programmes a wide range of quality British cinema alongside international and art house titles. Draft

Our programming is curated in conjunction with the Independent Cinema Office, and we also host film festivals and other events. We offer Parent and Baby screenings, family screenings, captioned screenings and dementia friendly screenings as part of our Communities programme in partnership with Ashford Place. For 2024/25, Kiln Cinema was part of Film London’s Cinema Incentive Scheme, and was recognised with a grant of £8,666.67 (confirmed after year end) with 75% of films in Kiln’s programme classified as Independent British or Specialised films (in excess of the scheme’s threshold target of 68%).

The Cinema auditorium underwent a two-month refurbishment in 2024/25 which involved a major technical and facilities infrastructure upgrade - including a new projector, seating, carpeting and more efficient lighting and heating solutions. This has enabled us to deliver more versatile, comfortable and immersive experiences for our visitors.

Kiln Cinema audiences continued to grow across 2024/25 as we nearly equalled the amount of customers from the year before despite the two-month closure for the refurbishment. We had 502 screenings in our cinema and welcomed 10,312 customers who bought £68,982 worth of tickets.

As part of a new strand of artistic offerings, Kiln now also hosts a year-round programme of talks, Q&A’s, book launches and special events in our Cinema auditorium with some of the country’s top artists, entrepreneurs, academics and writers.

>Fundraising

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Our fundraising efforts continued in 2024/25. During this time, we received donations totalling £1,095,904 from a range of individuals, companies, trusts and foundations and statutory funders. We are deeply grateful to all those who supported us during the year.

Individuals

We remain so grateful to all the members of the Kiln Circle and to the small but essential group of major donors who are committed to Kiln’s mission. Our individual giving group, the Kiln Circle, continues to help us to generate philanthropic income.

In addition, 3,421 ticket bookers made a booking donation across the year (raising £11,471), and 1,806 people Sponsored a Ticket, raising £16,811 - helping us provide free or subsidised theatre tickets to people who might not otherwise be able to see a Kiln Theatre production. We are also grateful to the 87 regular supporters whose monthly and annual donations in 2024/25 provided sustained core income to Kiln Theatre.

Events

We hosted one fundraising event in aid of Kiln Theatre in 2024/25: Jim Carter presents Sense and Sensibility 30th Anniversary Screening with Jim Carter, Emma Thompson, Greg Wise, Harriet Walter and Imelda Staunton. This raised £19,950. We are grateful to all those who booked tickets, and to Jim Carter and the cast of the film who gave their time so generously.

Trusts

Throughout 2024/25, we received substantial support from trusts and foundations towards our artistic programme, our core costs, and our Creative Engagement programme, and we are extremely grateful to have the support of a wide range of organisations. Draft

The Trustees take their responsibilities under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications for their activities. Kiln Theatre has an Acceptance of Donations Policy, a Whistleblowing and Anti-Bribery Policy, which outline the standards and practices for all theatre representatives to follow. We are a paid member of the Fundraising Regulator and we subscribe to the Fundraising Preference Service. We follow the Code of Fundraising Practice and stay up to date with compliance and regulation around fundraising. We also have a Promise to Supporters, which sets out our commitment to being transparent, respectful, accountable, and approachable in all our dealings with donors and prospective donors.

The Board of Trustees is regularly updated on fundraising progress. Our Acceptance of Donations Policy outlines the process for accepting and soliciting donations to ensure that fundraised income is raised in accordance with the theatre’s ethics as well as other policies and the Code of Fundraising Practice. In the year ended 31 March 2025 no complaints were received in respect of fundraising.

The Executive Director, Finance Director and Fundraising Director have reviewed and monitored all fundraising activity in 2024/25 and can report that there is no evidence of any negligence or non-compliance with the charity’s policies.

>Sustainability

In 2024/25 we made strong progress in our sustainability work. We embedded Theatre Green Book standards across our productions, reduced our carbon footprint and energy use, and found new ways to involve staff and our community in environmental action. These achievements build on the foundations of previous years and give us a clear direction for the future.

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Trustees’ report For the year ended 31 March 2025

Key initiatives and highlights:

Carbon footprint and Creative Green Reporting: Each year we report our environmental data to Arts Council England through their Creative Green Reporting, covering energy and water use, waste and recycling rates, and business and audience travel. We also complete a survey on how sustainable practice is embedded across our organisation. In 2024/25 we reduced our overall carbon footprint from 261.15 tonnes CO₂e to 234.6 tonnes CO₂e, a reduction of 26.55 tonnes. However, it should be noted, that year’s figure was unusually high due to international flights for The Wife of Willesden , but this year’s report still demonstrates meaningful progress.

Energy reduction: We achieved small but consistent reductions in energy, waste, and water use, despite attendances increasing by 7%. Energy consumption has now fallen every year since COVID, with a 7% reduction over four years and a 19% reduction in gas, which has the highest carbon impact.

Waste and Recycling: This year we’ve seen less waste going to Energy from Waste (incineration) and steady levels of recycling. Mixed recycling has gone up a little, and while glass is slightly down, it still makes up a big part of what we recycle. Overall, it shows we’re sending less to incineration and keeping recycling strong, which is a step in the right direction.

Theatre Green Book productions: Our first ever Kiln-led Green Book-aligned production was Peanut Butter and Blueberries in August 2024. Three following productions achieved scenery targets, four achieved costume targets, and four achieved props targets, with Peanut Butter and Blueberries achieving the full Basic standard. Sustainability is now written into technical and creative agreements, embedding shared responsibility across teams. Draft

Improved storage and disposal: We cleared long-held offsite storage, moving frequently used items onsite and redistributing others through donations, resale, or recycling. Only items that could not be safely reused were disposed of.

Training: All members of our Green Team are now qualified through Carbon Literacy training. This upskilling is already supporting departments to develop their sustainability work more confidently and effectively.

Staff engagement: In November 2024 we ran our first Sustainability Week , with each Green Team member leading sessions on topics including energy, reuse, waste, digital sustainability, and food and wellbeing. Activities included a clothing swap, sustainable lunches, an energy switch-off campaign, and a clothing repair workshop. It proved a valuable way to bring staff together around sustainability, strengthening awareness and encouraging action across the organisation.

Community collaboration: In July 2024 we partnered with Brent Climate Action to deliver a Climate Action Takeover, which brought environmental issues centre stage at Kiln. The event made use of the JLS, Baldwin Studio, and Cinema, with film screenings, workshops, a planting session, and stalls from local environmental groups. It was open to the public and attracted a broad mix of audiences, including many local residents and families. The day helped to strengthen Kiln’s role as a community hub for climate issues and provided a platform for local groups to connect with each other on sustainability issues. We plan to build on this success with future partnered events .

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Kiln Theatre

Trustees’ report For the year ended 31 March 2025

Other initiatives: We have continued to improve smaller but important aspects of our environmental responsibility.

• All press night gifts are now sourced responsibly and ethically; for example, during Spymonkey’s Frogs we made a donation in their name to the charity Froglife , which is a national charity committed to the conservation of amphibians and reptiles.

• In the Fidelity Cinema refurbishment, we upgraded our old projector to a new model that uses significantly less power and no longer requires an extractor fan. We also replaced the original front-of-house lighting with a modern, energy-efficient LED system, and installed PIR (motion sensor) lighting in cinema toilets so that lights are only on when in use.

We are proud of the progress made in 2024/25 and of the commitment shown by our staff and creative teams. Our work this year has reduced our carbon footprint, lowered our energy use, expanded sustainable practice across productions, and increased engagement both internally and with our community. As we move forward, we will continue to build on this foundation, using the data and experience gathered this year to push our sustainability agenda further and reduce our environmental impact across every area of Kiln’s work.

>The Staff

The organisation is run day to day by the Executive Team, supported by a senior management team who lead a skilled, experienced and highly committed permanent team of 37 staff (including full-time and parttime roles).

>Plans for the Future

Amit Sharma’s final show of his first season as Artistic Director, Draft Shanghai Dolls by Amy Ng, has been a significant financial success - hitting 114% of its box office target. Based on the true story of a cultural martyr and a cultural oppressor, Madame Mao and Sun Weishi, the show received an incredibly strong response from audiences attracting a significant proportion of East Asian theatregoers.

Amit’s bold artistic vision continues into 2025/26 with a new season of productions which align with Kiln’s mission of staging work that entertains, fires the imagination and reflects the world around us.

• The Ministry of Lesbian affairs by Iman Qureshi and directed by Hannah Hauer-King transfers to Kiln following a critically acclaimed run at Soho Theatre in 2022. The play follows the only lesbian choir in the country trying to win their place on the Pride mainstage. Packed with laugh out loud moments and lots of lesbian drama, this heartwarming musical comedy also tackles big themes within the LGBTQ+ community.

• Reunion, written by and directed by Mark O’Rowe, is a funny and gripping family drama that arrives at Kiln for its UK Premiere following critically acclaimed, sell out runs at Galway International Arts Festival (GIAF) and the Gaiety Theatre in 2024. A collaboration with Landmark Productions and GIAF, the story takes place on an island off the west coast of Ireland where a family is gathering, and a storm is brewing.

• Coven is a scorching new musical based on the UK’s most infamous witch trials. With book by Rebecca Brewer, music by Rebecca Brewer and Grammy award-winning Daisy Chute and directed by Olivier award-winning Miranda Cromwell, this highly anticipated show (the biggest Kiln has ever staged) combines uplifting anthems and powerful melodies in a fresh reinterrogation of the true story of the Pendle Witch Trials.

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Kiln Theatre

Trustees’ report For the year ended 31 March 2025

• Manic Street Creature , the award-winning gig theatre event, starring the Olivier Award-winning Maimuna Memon (who also writes the book, music and lyrics) will return in a new production at Kiln Theatre. The fresh and thrilling take on a modern love story will run in spring 2026.

Alongside our work on stage, in 2025/26 our award-winning Creative Engagement programme will continue to champion the imagination, aspiration and potential of the Brent community young and old. We will reach young people through our Learning programme (Schools Residencies, Backstage Workshops, and curriculum support activities), embed creative learning via the Arrive Build Create programme (for newly arrived young people) - as well as delivering the second year of our groundbreaking Kilburn High Road project with communities across Kilburn and beyond.

Kiln will continue to build upon new areas of revenue generation, to support our core areas of artistic operation, via a new commercial strategy. Focussing on the hire of existing spaces (facilitated by a Senior Events Sales Manager), including the rehearsal room, studio space and bar, as well as the delivery of new events in the Cinema auditorium will enable the organisation to further diversify its income streams.

Kiln continues to strengthen its governance under Chair Sabine Chalmers who has overseen the recent appointment of new Trustees Aleksandra Barnes, Sophie Hussey, Maimuna Memon and Stacy Coyne Wright – who join Pippa Adamson, Louis Charalambous, Michael Berg (Vice Chair of the Board), Heather Doughty, Natasha Gordon, Katie Haines and Alastair Levy. Of the appointments, Sabine said “I am absolutely delighted to welcome our brilliant new trustees…They each bring with them a deep passion for the sector, as well as incredibly diverse insights and experiences from a variety of industries and organisations. Kiln Theatre has always been a beacon of cultural expression and community engagement, and I am excited to be working with Amit, Iain and the entire Board as we continue Kiln’s important Draft mission.”

3. FINANCIAL REVIEW

The results for the year show net expenditure of £528,420 (2024: net expenditure £148,007). This figure includes a charge for depreciation of £280,884 ( 2024: £280,865). This level of net expenditure, whilst significant, was in line with planned activity for the year and represents an improvement on the agreed budget set by Trustees.

Total income for the year was £4,029,392 (2024: 4,079,908) with good performance in all areas of revenue generation. The full year schedule of 6 theatre productions generated £953,263 in box office receipts, a small improvement on the £948,120 in 2023/24. This continues the trend of box office growth year on year, post Covid, and reflects Kiln’s ambition to continue to generate more revenue from core activities.

The cinema benefitted from significant investment in the year and, consequently, was closed to the public for 2 months. Nevertheless, box office receipts continued to trend above prior year up to the date of closure. The management team continue to seek innovative ways to generate revenues from the cinema space and look forward to enjoying the benefits of the improvements for many years to come.

Fundraising remained a critical element in the financial mix for the organisation with £1,095,904 being raised from a range of supportive individuals, trusts and organisations (2024: £1,138,707). Kiln remains extremely appreciative of every donation to its work, large or small.

Kiln Theatre continues to be a National Portfolio funded organisation and gratefully received funds from the Arts Council in 2024/25 amounting to £945,901 (2024: £945,901).

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Trustees’ report For the year ended 31 March 2025

Kiln Theatre

Cost control remained at the heart of the financial strategy for 2024/25 and continues to drive efforts for efficiencies across the organisation. Trustees look for value for money in all activities and have charged the management team to reduce the funding gap through savings, where possible, whilst striving to over deliver on charitable and community objectives.

The net expenditure of £528,420 was funded £477,354 from restricted funds (2024: 144,958), £50,000 from designated funds (2024: £13,402) and £1,066 from general funds (2024: -£8,353).

A designated fund of £36,598 remains at 31 March 2025 which is earmarked for essential repairs and equipment replacement in the theatre.

Investment Powers and Policy

Under the Articles of Association, the charity has the power to invest in any way the Trustees wish for the long-term benefit of the theatre. All surplus funds are currently held in interest bearing cash deposits. These are either with HSBC or with the Flagstone platform, benefiting from FSCS protection.

Reserves Policy

At 31 March 2025 the company held total reserves of £10,478,196 (2024: £11,006,613). Of this reserve £9,323,744 was restricted (2024: £9,801,098), £1,117,851 was held in the general fund (2024: £1,118,917) and £36,598 in designated funds (2024: £86,598). Free reserves were £1,154,449 (2024: £1,205,515).

Within restricted funds there is a capital reserve of £9,123,495, largely as a result of improvements to the leasehold property. This is being amortised over the life of the asset. Draft

At the year end, £200,249 was held in restricted income funds for use in Creative Engagement projects, for new commissions through the Bertha Foundation and for funded salaries.

The £36,598 designated capital improvement reserve held at 31 March 2025 has been committed in the 2025/26 budget.

The reserves policy is reviewed annually. Trustees continue to hold the view that general reserves should be maintained at between 3 and 6 months’ operating expenses.

Reserves at 31 March 2025 met this policy.

4. TRUSTEES AND ADMINISTRATIVE DETAILS

Trustees :

The Trustees of the charitable company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees who served during the year and since the year-end were as follows:

tees who served during the	year and since the year-end were as follows:
Phillippa Adamson
Letitia Bain	(appointed 25 June 2025)
Aleksandra Barnes	(appointed 25 June 2025)
Michael Berg
Sabine Chalmers	(appointed 11 September 2024)

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Kiln Theatre

Trustees’ report For the year ended 31 March 2025

Louis Charalambous Stacy Coyne (appointed 4 April 2025) Dominic Cooke (resigned 30 April 2024) Heather Doughty (appointed 27 June 2024) Natasha Gordon (appointed 27 June 2024) Katherine Haines (appointed 27 June 2024) Alastair Levy Maimuna Memon (appointed 4 April 2025) Sita McIntosh (resigned 17 June 2024) Karen Napier (resigned 17 June 2024) Shrina Shah (resigned 13 October 2024) Christopher Yu (resigned 31 July 2024)

Brent Council Representatives (Observers):

Cllr Mili Patel

Cllr Fleur Donnelly-Jackson

5. STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Kiln Theatre is a company limited by guarantee. It is also a registered charity and is regulated by the Charity Commission. Kiln Theatre’s Memorandum and Articles allow for a maximum of 15 Trustees and a minimum of 3. Trustees serve a maximum term of 3 years and can serve for a maximum of 3 consecutive terms with the option of a final 1-year term in specific circumstances. All Trustees are members of the Draft company and are automatically appointed as such when they are elected to hold office. They cease to be members when their term of office ends. As a company limited by guarantee, all members are liable to pay £1 in the event of winding up or dissolution of the charity.

Appointment of Trustees

New Trustees are elected to the Board by existing members after recruitment process and discussion. The induction process is described below.

Sabine Chalmers was elected Chair of the Trustees on 26 July 2024 and took up office on 11 September 2024.

Trustees’ Induction and Training

The Nominations Committee is responsible for reviewing the skills of Trustees and ensuring that any gaps that exist in those skills are addressed as vacancies arise. All potential Trustees are referred to the Nominations Committee as part of the recruitment process to ensure that any appointment fills identified gaps and strengthens the Board. The Committee then makes a recommendation to the full Board, who will decide whether to invite the candidate to become a Trustee.

New Trustees go through an induction process which includes reviewing copies of the current Strategic Plan, recent board meeting minutes, most recent management accounts and statutory accounts as well as meeting with key members of staff, including the Executive team.

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Kiln Theatre

Trustees’ report For the year ended 31 March 2025

Consideration is regularly given to the Charity Governance Code to ensure that the organisation is following best practice.

Organisation

The Board of Trustees is responsible for the strategic direction of the charity. The Board is required to meet at least 3 times a year. It has two sub-committees responsible for looking at specific areas in more detail: 1. Finance and Risk, and 2. Nominations.

The Trustees have delegated the operational day to day running of the charity to the Executive team - the Artistic Director/CEO and Executive Director.

Remuneration of Key Management Personnel

Key management personnel are those that the Trustees have delegated the day-to-day running of the charity to. During the year the Trustees considered the Artistic Director and Executive Director to be the key management personnel. Their remuneration is reviewed annually by the Nominations Committee with reference to industry standards.

Related Parties

The charity has two wholly owned subsidiary companies; Kiln London Productions Limited (formerly Tricycle London Productions Limited) and Tricycle Screen Limited. There are no other related parties.

Risk Management

Draft

The Trustees have identified the major risks to which the charity is exposed, and systems have been established to mitigate these risks. The main procedures in place for identifying, evaluating and managing risks are:

• A comprehensive budgeting and planning system with an annual budget and strategic plan;

• Regular management accounts analysing performance against budgets;

• Quarterly review by Finance & Risk committee of risk levels and mitigation measures.

As at 31 March 2025, the Trustees considered the key risks to Kiln Theatre to be the challenging fundraising environment, uncertainty surrounding box office receipts and the ongoing challenge to develop a long-term and sustainable business model.

The Trustees actively monitor risk mitigation strategies for all risks the organisation faces and, in the case of the above key risks, are actively involved in oversight of a 3 year fundraising strategy, support and monitoring of audience development opportunities and exploration of additional commercial opportunities to bring in additional revenue.

6. TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

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Kiln Theatre

Trustees’ report For the year ended 31 March 2025

The Trustees (who are also directors of Kiln Theatre for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP (FRS 102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

• there is no relevant audit information of which the charitable company’s auditor is unaware; and

• Draft

• the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions.

7. AUDITORS

Nyman Libson Paul LLP were re-appointed as auditors. A resolution was passed at the Annual General Meeting that Nyman Libson Paul LLP continue as auditors to the charity for the ensuing year.

The Trustees’ Report, which incorporates the Strategic Report, has been approved by the Board of Trustees.

UzA1365BE37BB14AE... by: Sabine Chalmers

Chair of the Trustees Date 13/10/2025

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Kiln Theatre

Independent auditors’ report to the members For the year ended 31 March 2025

Opinion

We have audited the financial statements of Kiln Theatre (the 'parent charitable company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charity balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2025 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Draft Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our

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Kiln Theatre

Independent auditors’ report to the members (continued) For the year ended 31 March 2025

knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

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Kiln Theatre

Independent auditors’ report to the members (continued) For the year ended 31 March 2025

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Thomas (senior statutory auditor)

for and on behalf of Nyman Libson Paul LLP Chartered Accountants Statutory Auditors 124 Finchley Road, London, NW3 5JS Date:

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Kiln Theatre

Consolidated statement of financial activities (Incorporating an income and expenditure account) For the year ended 31 March 2025

Notes Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments Theatre tax credit 6 7 Total income Expenditure on: Raising funds Raising donations 8 Costs of trading 8 Charitable activities 8 Total expenditure Net income / (expenditure) for the year Transfers between funds 11 Net movements in funds Funds brought forward Funds carried forward 11	General Fund £ 1,447,798 1,138,433 370,670 22,783 455,701 3,435,385 209,261 476,455 2,800,735 3,486,451 (51,066) 50,000 (1,066) 1,118,917 1,117,851	Designated Funds £ - - - (50,000) (50,000) 86,598 36,598	Restricted Funds £ 594,007 594,007 1,071,361 1,071,361 (477,354) - (477,354) 9,801,098 9,323,744	2025 Total £ 2,041,805 1,138,433 370,670 22,783 455,701 4,029,392 209,261 476,455 3,872,096 4,557,812 (528,420) - (528,420) 11,006,613 10,478,193	2024 Total £ 2,084,608 1,282,563 318,696 23,346 370,695
					4,079,908
					240,533 369,491 3,617,891
					4,227,915
					(148,007)
					(148,007)
					11,154,620
					11,006,613

The Statement of Financial Activities contains all recognised gains and losses in the year.

All activities relate to continuing operations.

The notes on pages 26 to 40 form part of these financial statements.

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Kiln Theatre Consolidated Balance Sheet at 31 March 2025

Notes Fixed assets Tangible fixed assets 12 Current assets Stock Debtors 15 16 Cash Creditors: amounts falling due in less than one year 17 Net current assets Net assets Represented by: General fund 11 Designated funds 11 Restricted funds: 11 - Capital funds - Income funds Net assets 19		2025 £ 6,976 779,835 1,337,443 2,124,254 (769,556) 9,123,495 200,249		2025 £ £ 9,123,495 1,354,698 10,478,193 1,117,851 36,598 9,323,744 10,478,193	2024 £ 8,826 521,655 1,598,489 2,128,970 (526,736) 9,404,379 396,719	2024 9,404,379 1,602,234
						11,006,613
						1,118,917 86,598 9,801,098 11,006,613

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Kiln Theatre Charity Balance Sheet at 31 March 2025

		2025 2025 2024 2024	2025 2025 2024 2024	2025 2025 2024 2024	2025 2025 2024 2024	2025 2025 2024 2024	2025 2025 2024 2024
	Notes	£	£	£		£
Fixed assets
Tangible fixed assets	12	9,123,495					9,404,379
Investments	14	200					200
			9,123,695				9,404,579
Current assets
Debtors	16	841,805			553,411
Cash		1,320,391			1,589,666
		2,162,196			2,143,077
Creditors: amounts falling due
in less than one year	17	(768,668)			(524,306)
Net current assets			1,393,528				1,618,771
Net assets			10,517,223				11,023,350
Represented by:
General fund	11		1,156,881				1,135,654
Designated funds	11		36,598				86,598
Restricted funds:	11
- Capital funds		9,123,495			9,404,379
- Income funds		200,249	9,323,744		396,719
							9,801,098
Net assets	19		10,517,223				11,023,350

As permitted by s408 Companies Act 2006, the charity has not presented its own profit and loss account and related notes. The charity’s net expenditure as defined by the Companies Act 2006 for the year was £506,127 (2024: Net expenditure of £176,292).

The notes on pages 20 to 34 form part of these financial statements

The financial statements were approved by the Board on Thursday 9 October 2025.

UzA1365BE37BB14AE... by: Sabine Chalmers Chair

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Kiln Theatre Consolidated statement of cash flows For the year ended 31 March 2025

Notes Cash flows from operating activities: Net income (expenditure) for the reporting period Tax credit receivable Depreciation Amortisation of intangible fixed asset Decrease/(Increase) in stock Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by operating Activities Net cash movement Cash at 1 April 2024 Cash at 31 March 2025 Net cash movement 21	2025 £ (984,121) 455,701 280,884 1,848 (258,178) 242,820 (261,046)	£ (261,046) 1,598,489 1,337,443 (261,046)	2024 £ £ (518,702) 370,695 280,865 (3,683) 112,284 (63,253) 178,206 178,206 1,420,283 1,598,489 178,206	2024 £ £ (518,702) 370,695 280,865 (3,683) 112,284 (63,253) 178,206 178,206 1,420,283 1,598,489 178,206
				178,206
				1,420,283 1,598,489
				178,206

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Kiln Theatre

Notes to the financial statements For the year ended 31 March 2025

1. Accounting policies

1.1

Accounting convention

The financial statements have been prepared under the historical cost convention. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The Charity constitutes a public benefit entity as defined by FRS102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiary are consolidated on a line by line basis

1.2

Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Trustees have reviewed the future cashflow and financial plans of the organisation in detail and, whilst there is always some unpredictability as to the level of earned income, they are comfortable with the underlying assumptions and can therefore confirm that it is appropriate to continue to produce the accounts on a going concern basis.

1.3 Income

Income from donations and grants, including capital grants and Arts Council and local authority funding, is included in income when there is entitlement, probability of receipt and the amount can be measured with sufficient reliability, unless the donor has specified that the donation or grant relates to a future period or that certain pre-conditions must be fulfilled before use. In these cases, amounts received are recognised in the relevant period or when the pre-conditions have been met and until then treated as deferred income. Donations and grants for particular purposes are included in incoming resources as restricted funds.

Production Income is included in income in the period in which the relevant performance takes place. Income related to productions in a subsequent period is treated as deferred income.

Grants are included in the Statement of Financial Activities when the Charity is entitled to receive the money.

All other income is recognised on an accruals basis once the charity is legally entitled to receipt.

All income is recorded net of VAT.

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

1. Accounting policies (continued)

(continued)

1.4

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Expenditure is recognised when a liability is incurred. Costs of raising funds are those costs incurred in attracting voluntary income and those incurred in the operation of trading activities which raise funds. Charitable activities include expenditure associated with the operation of the theatre and such directly associated activities as the creative engagement programme (educational and outreach). Cost of charitable activities includes both the direct cost of activities and related support costs. Support costs include central functions and have been allocated to activity costs on a basis consistent with the use of resources. This is frequently on the basis of staff time spent in each area but other bases such as usage are also employed. Support costs also include Governance costs. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Where performances of a production straddle the balance sheet date, production costs are apportioned in relation to the number of performances falling within each period and the amount relating to performances after the balance sheet date are treated as debtors.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, once brought into use, as follows:

Leasehold improvements Over the life of the lease Freehold land Nil Leasehold land Over the life of the lease Fixtures, fittings and equipment 25% straight line

1.6 Intangible fixed assets and amortisation

Intangible fixed assets are stated at costs less amortisation. Intangible fixed assets held on the balance sheet relate to the costs associated with the website. This is amortised over five years as this is the period deemed to be the life of the website.

1.7 Leasing

Rent payable under operating leases is charged against income on a straight-line basis over the lease term.

1.8 Investments

The Statement of Recommended Practice requires investments to be included initially at cost and subsequently at fair value, unless a reliable valuation cannot be obtained in which case they should be included at cost.

The investments of Kiln Theatre consist of two subsidiaries, Tricycle Screen Limited and Kiln London Productions Limited. Both companies are unlisted and the Trustees consider it appropriate to include the investments at cost.

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

1. Accounting policies (continued)

(continued)

1.9

Stock

Stock is held in the balance sheet and is valued at the lower of cost and net realisable value.

1.10 Pensions

The charity operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the Statement of Financial Activities in the year they are payable.

1.11 Consolidation

The consolidated financial statements present information about the company and its wholly owned subsidiary companies Tricycle Screen Limited and Kiln London Productions Limited.

1.12 Fund accounting

Funds received for a purpose specified by the donor are credited to restricted funds. Expenditure incurred on these purposes is then charged to the funds as it is incurred.

All other income is treated as unrestricted funds. The Trustees have chosen to designate certain funds for specific future expenditure as explained in the Trustees’ Report.

1.13 Financial instruments

The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments

1.14 Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors do not believe that there is a significant risk of a material adjustment being made to the carrying amounts of assets and liabilities included in these financial statements within the next financial year.

2.

Status of company

The company is a registered charity, limited by guarantee. The total of such guarantees at 31 March 2025 was £8 (2024: £9).

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

3. Income from donations and legacies

ncome from donations and legacies
Unrestricted £ Creative engagement grant income Grant income 154,780 Donations 347,117 Arts Council England income 945,901 1,447,798 Total 2024 1,427,291	Restricted £ 284,833 273,373 35,801 - 594,007 657,317	Total 2025 £ 284,833 428,153 382,918 945,901
		2,041,805
		2,084,608

The Arts Council supported the Theatre with a National Portfolio Organisation grant which amounted to £945,901 in 2024/25 (2024: Total of £945,901). We received £Nil from Brent Council in 2025 (2024: £2,000). Total government grant funding in the year was £945,901 (2024: £947,901).

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

4. Income from charitable activities

Unrestricted £ Production income 1,115,634 Workshops and courses 22,799 1,138,433 Total 2024 1,282,563	Restricted £ - - - -	Total 2025 £ 1,115,634 22,799
		1,138,433
		1,282,563

5. Income from other trading activities

ncome from other trading activities
	Total/	Total/
	Unrestricted	Unrestricted
	2025	2024
	£	£
Sales and merchandising	272,688	287,240
Sundries	97,982	31,456
	370,670	318,696

6. Investment income

	Unrestricted/	Unrestricted/
	Total	Total
	2025	2024
	£	£
Interest received	22,783	23,346

7. Taxation

The company is registered as a charity under the Charities Act 2011 and as such is entitled to the exemptions under Income and Corporation Taxes 1988. The tax credit of £455,701 (2024: £370,695) recognised in the Statement of Financial Activities represents the amount receivable for Theatre Tax Relief.

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

8. Expenditure Direct costs £ Raising funds Raising donations 130 881 Trading 297,995 428,876 Charitable activities Production 2,009,579 Creative engagement 338,976 Cinema 73,220 2,421,775 2,850,651 Total 2024 2,727,698 Support costs Advertising, publicity and marketing Administrative staff Premises costs Office costs Professional and financial Governance Audit fee Other fees paid to auditors Depreciation and amortisation Operating lease payments 9. Auditors’ remuneration Fees payable to the Charity’s auditor for the audit of the Charity’s annual accounts		Support costs £ 78,380 178,460 256,840 1,203,471 203,001 43,849 1,450,321 1,707,161 1,500,217 2025 275,317 103,119 831,117 115,852 33,663 1,800 17,325 6,179 280,884 41,905 1,707,161 2025 £ 15,784		Total 2025 £ 209,261 476,455
				685,716 3,213,050 541,977 117,069
				3,872,096
				4,557,812
				4,227,915
				2024 271,125 127,140 589,480 132,574 34,264 2,238 18,938 3,940 280,865 39,653
				1,500,217
				2024 £15,250

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

10. Employees

Number of employees

The average number of employees during the year was 75 (2024: 78). This is split as follows:

Number of staff Finance and Administration Production Artistic Fundraising Front of House and café and bar Staff Creative engagement Operations Employment costs Wages and salaries Social security costs Other pension costs	2025 No 6 9 4 3 28 14 11 75 2025 £ 1,521,522 130,682 45,382 1,697,586	2024 No 7 13 4 5 23 12 14
		78
		2024 £ 1,562,562 135,070 48,452
		1,746,084

No Directors of the company were employed or received any remuneration or reimbursement of expenses.

Salaries over £60,000
	2025	2024
Between £60,000 and £70,000		1
Between £70,000 and £80,000	1	1

Key management personnel is defined as the Executive Team. Total remuneration of key management personnel in the period was £147,148 (2024: £215,504).

Included within wages and salaries costs are redundancy and termination payments of £Nil (2024: 51,995). There were no outstanding payments at year end (2024 £Nil).

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

11. General, restricted and designated funds

Restricted income funds Creative engagement National Lottery Heritage Fund Productions Other Restricted capital funds Leasehold improvements Freehold land Leasehold premises Total restricted funds General fund Designated funds Capital improvement Three months operating costs Total designated fund Total Total 2024	Balances b/f £ 113,020 9,976 145,000 128,723 396,719 8,703,914 350,000 350,465 9,404,379 9,801,098 1,118,917 86,598 - 86,598 11,006,613 11,154,620	Income £ 284,833 19,989 289,185 594,007 594,007 3,435,385 - 4,029,392 4,079,908	Expenditure £ 326,357 3,325 164,989 295,806 790,477 280,884 280,884 1,071,361 3,486,451 - 4,557,812 4,227,915		Transfers £ 4,430 (4,430) - - 50,000 (50,000) (50,000) -	Balances c/f £ 75,926 6,651 - 117,672
						200,249
						8,423,030 350,000 350,465
						9,123,495
						9,323,744
						1,117,851
						36,598
						36,598
						10,478,193
						11,006,613

Restricted funds

Restricted funds can only be spent on the projects they were given to support. The income funds held at the 31 March 2025 are primarily to support Creative Engagement activity, commissions and funded salaries.

Restricted capital funds represent the fundraising carried out for the major capital projects. Covenants in place governing the future use of the building mean that these funds remain restricted even when the work is complete.

Designated Funds

The Trustees have maintained one designated fund. £36,598 is set aside as a capital maintenance fund.

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

12. Fixed assets

Charity and Group

Cost At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 At 31 March 2025 At 31 March 2024	Leasehold Improvements £ 10,993,154 10,993,154 2,288,970 275,494 2,564,464 8,428,690 8,704,184	Freehold Land £ 350,000 350,000 - - 350,000 350,000	Leasehold Premises £ 593,024 593,024 242,829 5,390 248,219 344,805 350,195	Fixtures, Fittings and Equipment £ 490,613 490,613 490,613 - 490,613 - -	Total £ 12,426,791
					12,426,791
					3,022,412 280,884
					3,303,296 9,123,495
					9,404,379

13. Intangible fixed assets

Charity and Group Cost Cost brought forward Additions At 31 March 2025 Amortisation Amortisation brought forward Charge for the year At 31 March 2025 At 31 March 2025 At 31 March 2024	Website £ 56,616 - 56,616 56,616 - 56,616 - -

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

14. Investments

nvestments
	Shares in
	subsidiary
	undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	200
Net book value
At 1 April 2024 and 31 March 2025	200

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company	Country of	Class	Shares	%
	corporation		held
Tricycle Screen Limited	England and	Ordinary	100	100
(03077972)	Wales
Kiln London Productions	England and	Ordinary	100	100
Limited (04807399)	Wales

The result of these companies in the year ended 31 March 2025 have been consolidated into these accounts and are as follows:

Company	Income	Expenditure	Profit/(loss)	Reserves at
				31 March
				2025
Tricycle Screen Limited	245,719	268,012	(22,293)	(30,659)
(03077972)
Kiln London Productions	-	-	-	(8,371)
Limited (04807399)

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

15. Stock Charity Stock in hand Group Stock in hand 16. Debtors Charity Trade debtors Amounts due from subsidiaries VAT Other debtors Prepayments and accrued income Group Trade debtors VAT Other debtors Prepayments and accrued income	2024 £ - 2025 £ 6,976 2025 £ 209,731 61,971 5,264 564,839 841,805 2025 £ 209,731 5,264 564,840 779,835	2024 £ - 2024 £ 8,826 2024 £ 10,903 32,816 9,154 8,971 491,567 553,411 2024 £ 11,963 9,154 8,971 491,567 521,655

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

17. Creditors

Charity Trade creditors Other tax and social security VAT Accruals VAT provision Other creditors Deferred income Group Trade creditors Other tax and social security VAT Accruals VAT provision Other creditors Deferred income	2025 £ 126,226 56,251 9,657 54,843 166,703 68,705 286,283 768,668 2025 £ 127,114 56,251 9,657 54,843 166,703 68,705 286,283 769,556	2024 £ 89,647 48,050 - 62,836 166,703 62,059 95,011
		524,306
		2024 £ 91,548 48,050 - 63,301 166,703 62,123 95,011
		526,736

Deferred income of £286,283 (2024 £95,011) relates to ticket sales for productions taking place after the year end and co production payments received in respect of productions due to take place in 2025/26). All deferred income brought forward at 1 April 2024 was recognised in the year.

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

18. Financial commitments

18.1

Operating leases

As at 31 March 2025, the company had annual commitments under non-cancellable operating leases as follows:

ases as follows:
Expiry date: Within 1 year Within 1 – 2 years Within 2 – 5 years In more than 5 years	Land and 2025 £ 37,939 37,939 113,816 755,344 945,038	building 2024 £ 37,939 37,939 113,817 793,286 982,981	Equipment 2025 2024 £ £ - - - - - - - - - -
				-

Kiln Theatre has 3 leases. The landlords of the first lease are The Trustees of Court Abbey 1940 Branch of the Ancient Order of Foresters and the lease term is until 11 April 2052. The second lease is with Brent Council and is for a period of 125 years from 1995 so will end in 2120. The third is with the Governors of Peabody Trust and the lease term is until 22 August 2042.

• 18.2 Capital commitments and contingent liabilities

On 29 February 2016 the Arts Council of England took out a legal charge over the property at 269 Kilburn High Road in respect of the use of its funding for the capital project that runs for 20 years.

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

19. Analysis of funds

Group Fixed assets Current assets Current liabilities Charity Fixed assets Current assets Current liabilities Group Fixed assets Current assets Current liabilities Charity Fixed assets Current assets Current liabilities	General funds - 1,887,407 (769,556) 1,117,851 200 1,925,349 (768,668) 1,156,881 General Funds - 1,168,653 (526,736) 641,917 200 1,182,760 (524,306) 658,654	Designated Restricted funds funds £ £ 9,123,495 36,598 200,249 36,598 9,323,744 9,123,495 36,598 200,249 - - 36,598 9,323,744 Designated Restricted Funds Funds £ £ 9,404,379 563,598 396,719 - 563,598 9,801,098 9,404,379 563,598 396,719 - 563,598 9,801,098	Total 2025 £ 9,123,495 2,124,254 (769,556)
			10,478,193
			9,123,695 2,162,196 (768,668)
			10,517,223
			Total 2024 £ 9,404,379 2,128,970 (526,736)
			11,006,613
			9,404,579 2,143,077 (524,306)
			11,023,350

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Kiln Theatre

Notes to the financial statements (continued) For the year ended 31 March 2025

20. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £45,382 (2024: £48,452). £16,522 (2024: 15,347) was payable to the fund at the balance sheet date.

21. Analysis of net debt

	Cash at 1 April	Cash movement	Cash at 31
	2024		March 2025
	£	£	£
Cash held	1,598,489	(261,046)	1,337,443

22. Related party transactions

At the year end, the company was owed £53,700 (2024: £24,545) from Tricycle Screen Limited and £8,271 (2024: £8,271) from Kiln London Productions Limited. In the year costs of £nil (2024 £nil) were recharged.

No Trustees received any remuneration during the year.

The charity received an aggregate amount of £106,248 in donations from Trustees during the year (2024: £6,134). This included a donation of £100,000 from a family charitable trust of one of the Trustees.

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