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|||Unrestricted|Designated|Restricted|||
|---|---|---|---|---|---|---|
|||Funds|Funds|Funds|Total Funds|Total Funds|
|||Yearended|Yearended|Yearended|Yearended|Yearended|
|||31 March|31 March|3'lMarch|31March|31March|
|||2025|2025|2025|2025|20ì24|
|||Ê'000|â'000|€'000|Ê'000|g'000|
|lncome|||||||
|Donationsandlegacies:|||||||
|Sponsorship &donations||2,965||5,659|8,624|3,698|
|Arts Councilfunding|2|2,376||3,369|5,745|4,617|
|Charitable activities:|||||||
|Theatrepresentations||22,976.||134|23,110|28,603|
|Activitiesforraising funds:|||||||
|Trading income||3,861|||3,8ô1|3,332|
|Other income||858||28|886|935|
|lnvestmentincome||914||165|1,079|572|
|Totallncome||33,950||9,355|43,305|41,757|
|Expenditure|||||||
|Charitable activities:|||||||
|Expenditureonpresentations|3|22,608|,l|,625<br>2|25,234|30,23;4|
|Theatre overheads|3|5,390|63|2<br>,527|7,980|6,245|
|Activitiesforraising funds:|||||||
|Fundraising'costs|3|1,156||86|1,242|980|
|Trading|3|3,294||101|3,395|2,738|
|Total Expenditure||32,448|64|5,339|37,851|40,197|
|Netlncome before lnvestrnent Losses||1,502|(64)|4,016|5,454|1,560|
|Unrealised Loss on Investment Properties||||(26)|(26)|.(85)|
|Other Recognised Gains and TheatreTax<br>Relief||589||204|793|742|
|Netlncome||2,091|(64)|4,194|6,221|2,217|
|Grosstransfers betweenFunds||(2,345)|2,459|(114)|||
|NetmovementinFunds||(?54)|2,395|4,080|6,221|2,217|
|NetFundsat1April2024||4,734|435|1,701|6,870|4,653|
|Net Funds at3lMarch2025||4,480|2,830|5,781|13,091|6,870|





## 

||Ba|lance|sheetas at 31|March20|25||
|---|---|---|---|---|---|---|
||||2025|2025|2024|'2024|
||||Gonsolidated|Gharity|Consolidated|Charity|
|||Note|â'000|9r000|Ê'000|€'000|
|FixedAssets|||||||
|Tangible assets||6|41|30|57|43|
|lnvestment Property||7(b)|1,580<br>1,539|1,114<br>1,144|1,565<br>1,622|1,140<br>1,183|
|GurrentAssets|||||||
|Stockforresale|||150|60|90|.27|
|Debtors||B|6,374|9,068|6,135|6,621|
|Current assetinvestment<br>Cashatbankandin hand|||23,620<br>30,144|20j82<br> 29,310|1,500<br>14,276<br>22,001|1,500<br>12,558<br> 20,706|
|GreditorslAmountsFalling<br>DueWithinOne Year||I|(14,530)|(13,260)|(12,385)|(10,651)|
|Net GurreptAssets|||15,614|16,050|9,6;16|10,055|
|Long termLiabilities||10|(4,103)|(4,103)|(4,368)|(4,368)|
|TotalAssets<br>Liabilities|Less||13,091|13,091|6,870|6,870|
|Funds|||||||
|Restriôted||18|5,781|5,781|1,701|'l,701|
|Unrestricted-Designated||18|2,830|2,830|435|435|
|Unrestricted||18|4,480<br>13,091|4,480<br> 13,091|4,794<br>6,870|4,734<br>,6,870|






## 

## 

|||Year ended3l|Year ended31|Year ended31|
|---|---|---|---|---|
|||March2025|Ma¡ch2024||
||Note|Ê'000|€'000||
|Netcashflowsfrom operatingactivities|12|6,927||2,054|
|Cashflows frominvestingactivities|||||
|Cash receiptsfrominterest anddividendsreceived||079||572|
|Movement incurrentasset investments||500|(1,500)||
|Purchaseofproperty, plantandequipment||||(18)|
|Netcashprovidedby(used in) investing<br>activities||2,579||(e46)|
|Gashflows from financing activities:|||||
|Repaymentsofborrowing||(162)|||
|Netcash (usedin)financing activities||(162)|||
|Netchange in cashandcash equivalentsinthe<br>period||9,344||1,108|
|Movementinnetcashintheperiod||9,344||'l,108|
|Netcash and cash equivalentsat1April2024||14,276|1|3,168|
|Netcashandcash equivalentsat 31March2025|13|23,620|14,276||





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## 

|During 2025,thecharityhas recognised funding|fromtheArtsCouncilfor:||
|---|---|---|
||2025|2024|
||Ê'000|Ê:000|
|NPO core funding|2,376,|2,376|
|Restricted:|||
|. NYDC|495|450|
|.Stratford|2,828|1,332|
|.Breakin'Out||282|
|.Message inaBottle|40|164|
|.What'sNext|6|13|
||5,745|4,617|



## 

|.Message inaB<br>.What'sNext<br>.Expenditure on|ottle<br> support|costs|||40<br>6<br>5,745|164<br>13<br>4,617||
|---|---|---|---|---|---|---|---|
||||Theatre|||2025|2024|
||Presentatipn<br>€'000||Overhead<br>Ê'000|Fundraising<br>Ê'000|Trading<br>Ê'000|lotai<br>â'000|Total<br>Ê'000|
|Executive Office||857|124|59|167|1,207|1,021|
|Finance||1,330|192|92|260|1,874|2,868|
|People|.|462<br>2,649|67<br>383|32<br>183|90<br>517|651<br>3,732|488<br>4,377|



## 

||2025|2024|
|---|---|---|
||Ê'000|Ê'000|
|Audit- currentyear<br>prioryear|53I|41|
|Taxation - currentyear|3||
|prioryear|3|1|
|Non-auditservices||1|
||67|43|





## 

|5.Staff costs|||
|---|---|---|
|Gonsolidatedañdcharity<br>Wages and salaries|2025<br>€'000<br>10,395|2024<br>Ê'000<br>'8,849|
|Social security costs|1,069|847|
|Pensioncosts (note16)|341|282|
||11 805|9,978|



|oyee remuneration for employees e|arning morethanÊ60,|000fellinthefollowing|bands:|
|---|---|---|---|
||t|õltf¡Ê<br>2025|2024|
|Ê200;001-Ê210,000|||1|
|Ê170,001-€180,000||||
|Ê160,001-Ê170,000|||1|
|e110,001.-[120,000||1||
|€100,001-Ê110,000|||1|
|€90,001 - €100,000||2|2|
|Ê80,001 - Ê90,000||1||
|Ê7o,0ol- Ê80,000||7|3|
|€60,001 - Ê70,000||3|7|



|alentstaffemployed(including part-timestafF)|:.'||
|---|---|---|
||2025|2024|
|Theatre ândFrontofHouse|74|88|
|Box office|17|11|
|Marketing|23|21|
|Technical|62|53|
|Administration|24|23|
|Development|11|13|
|Events|b|4|
|Catering|31|24|
||248|237|





## 

## 

|.Tangiblefixed asset|s||||
|---|---|---|---|---|
|Consolidated|Leasehold|Gomputer|Fixtures&|2025|
||lmprovements|Equipment|Fittings|Total|
||['000|c'000|Ê'000|€'000|
|Cost|||||
|As at 1April2024|110|307|154|571|
|Additions|||||
|As at 31March2025|110|307|154|571|
|Depreciation|||||
|Asat 1April2024<br>Charge fortheperiod|80<br>7|?80I|154|514<br>16|
|As at 31March2025|87|289|154|530|
|Net bookvalue|||||
|As at 31March2025|23|18||41|
|Asat31March2024|30|27||57|
|Gharity|Leasehold<br>lmprovements|Computer<br>Equipment|Fixtures &<br>Fittings|2025<br>Total|
||Ê'000|€'000|Ê'000|Ê'000|
|Cost|||||
|At1April2024|110|289|46|445|
|Additions|||||
|At 31March 2025|110|289|46|445|
|Depreciation|||||
|At1April2024|80|276|46|402|
|Charge fortheperiod|7|6||13|
|At31March 2025|87|282|46|415|
|Netbookvalue,|||||
|At 31March 2025|23|7||30|
|At31March2024|30|13||43|





## 

||Yearended|Year ended|
|---|---|---|
||3lMarch|3lMarch|
||2025|2024|
|Profit andLossAccount|t'000|Ê'000|
|Turnover|9,388|9,795|
|Cost of sales|(1,111)|(87e)|
|Production expenses|(3,960)|(6,03e)|
|GrossProfit|4,31,7|2,877|
|Administration expenses|(2,257\|(1,764)|
|Bankinterest|68|21|
|Taxation|793|v42|
|Other recognisedgainsandlosses||(25|
|Result for thefinancialyear|2,921|1,85'l|
|Retainedearningsbrought forward|||
|Charitable.distributiontoparentcharity|(2,e21)|(1,851)|
|Retained earnings carried forward|||
||3lMarch|31 March|
||2024|2024|
|The assetsandliabilities of the subsidiary were:|€'000|c'000|
|Fixed assets|436|440|
|'Currentassets|.5,654|3,150|
|Creditors: amounts falling duewithinoneyear|(6,0e0)|(3,590)|
|Total netcurrentassets|||





## 

## 

|valuationswere reviewe<br>fair valueatthebalance|dintheyearand theT<br> sheetdate.|rusteesconsid|er thatthisisthebe|st estimateof|
|---|---|---|---|---|
||Consolidated|Charity|Gonsolidated|Gharity|
||2025|2025|2024|2024|
|Fairvalue|Ê'000|€'000|€'000|€'000|
|At1April2024|1,565|1,140|1,650|1,200|
|Revaluation loss|(26)|(26\|(85)|(60)|
|Asat31March 2025|1,539|1,114|1,565|1,140|



## 

|8.Debtors|||||
|---|---|---|---|---|
||Consolidated|Gharity|Consolidated|Gharity|
||2025|2025|?024|2014|
||f'000|€'000|€'000|['000|
|Trade debtors|2,539|2,075|I,985|1,440|
|Amounts owedbyrelatedunder,takings|7|4,829|2|1,858|
|Other debtors|70|62|484|449|
|Corporation Tax Receivable<br>Accruedincomeandprepayments|1,534<br>'2.224|2.102|741<br>2.923|2.874|
||6,374|9,068|6,135|6,621|



## 

|9.Creditors: amountsduewithi|noneyear||||
|---|---|---|---|---|
||Consolidateä|Charity|Consolidated|Gharity|
||2025|2025|2024|2024|
||e'000|Ê'000|Ê'000|€'000|
|Loan|325|325|137|137|
|Tradecreditors|1,848|1,789|750|710|
|Social security and othertaxes<br>Othercreditors|936<br>2,475|936<br>2,475|1,011<br>586|1,011<br>586|
|Accrualsanddeferredincome|8,946|7.735|9,901|8.207|
||14,530|13,260|12,385|10,651|



||Gonsolidated|Gonsolidated|Gharity|Consolidated|Charity|
|---|---|---|---|---|---|
||'|2025<br>€'000|2025<br>€'000|2024<br>Ê'000|2024<br>Ê'000|
|Balances broughtfonrard at1April||6,335|4,674|5,741|4,805|
|Releasedinyear||(6,021)|(4,362)|(5,400)|(4,465)|
|lncome deferredinyear||5.971|4,786|5,994|4,334|
|Balance carried forward||6,285|5,098|6,335|4.674|





## 

|Gonsolidated|Gharity|Consolidated|Charity|
|---|---|---|---|
|2025|2025|2024|2024|
|Ê'000|€'000|€'000|Ê'000|
|4.103|4.103|4.368|4.368|



## 

|||Gonsolidated|Consolidated|
|---|---|---|---|
|||&Charity|& Gharity|
|||2025|2024|
|||t'oo0|t'000|
|Payable|within1year|32.5|137|
|Payable<br>Payable|2-5 years<br> over5years|4,428<br>1,298<br>805|__l!91_<br>1,092<br>3 276|



## 

|12. RêconciliationofNetlncoming Resourcesfr|omOperatingActivities|omOperatingActivities|toNet Cashflow|
|---|---|---|---|
||Consolidated||Gonsolidated|
||&|Charity|& Gharity|
|||2025|2024|
|Consolidated||Ê'000|Ê'000|
|Net inconle forthe reportingperiod<br>Dividends, interestandrentsfrominvestments<br>Depreciation|'16|6,221<br>(1,079)|2,217<br>(572)<br>16|
|lmpairment||26|85|
|Finance costs||B5|85|
|(lncrease)instock||(60)|(1e)|
|(lncrease)in debtors||(23e)|(2,982)|
|lncrease in creditors||1,957|3,224|
|Netcashinflowfrom operatingactivities||6,927|2 054|






## 


## 

||At1April|Non-cash|Cash|At31March|
|---|---|---|---|---|
||2024|Flow|Flow|2025|
||Ê|c|Ê|Ê|
|Cashatbankandinhand|14,276||9,344|23,620|
|Borrowings|||||
|DCMS loan'|(4,505)'|(85)|162|4.428\|
|Netdebt|9,771|<br>(85)|9,506|____ße_|



## 

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## 

## 

|17.Netmovementinfunds<br>Forthey|earended|31Marcn2025|31Marcn2025|||
|---|---|---|---|---|---|
||At1April|lncomeExpenditure||Transfers/|At3lMarch|
||2024<br>e'000|Ê'000|€'000|Gains/Losses<br>Ê'000|2025<br>€'000|
|Restricted Funds:||||||
|National Youth Dance Fund|182|555|(654)|45|128|
|DameHilda BracketFund,|124||(4)|(25)|95|
|\MatNext?Fund|33|56|(8e)|||
|Stratford||2,829|(2,819)|(10)||
|DOPODO|(32)|108|(60)|(16)||
|Breakin'Out|2||(2)|||
|CreativeDevelopment Fund||1,112|||1,112|
|Development|12|76|(64)|(15)|9|
|Learning andEngagementFunds|461|687|(721)|98|525|
|Programming,Producing&Touring||||||
|Funds|52|108|(ee)|(1)|60|
|Rose Choreograph ic Prize|803|3,773|(765)|(4)|3,807|
|DataAcceleratorProject|54||(54)|||
|Otherrestricted funds|10|51|(8)||45|
||1,7019,355||5,339)|64|5,781|
|Unrestricted Funds:||||||
|Desig.natedFunds||||||
|PeacockTheatreFund|58||(64)|106|100|
|Sadler's WellsTheatreFund||||750|750|
|Transitionand ResilienceFund||||1,603|1,603|
|The Shakespeare's HeadFund|377||||377|
||435||(64)|2,459|2,830|
|GeneralFund|4,73433,950||(32,448',)|1,756)|4,480|
||6,870|43,305|<br>(37,851)|767|13,091|



## 



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|18.Analysis ofNetAssets|betweenfunds||||
|---|---|---|---|---|
||Fixedassets|Gash|Other net<br>liabilities|Nettotal<br>assets|
||c'000|Ê'000|['000|€'000|
|Unrestrictedfunds|981|14,660|(11,161)|4,480|
|Designatedfunds<br>Restrictedfunds|425<br>174|2,405<br>6,555|(948)|2,830<br>5,781|
|TotalFunds|1,580|23.620|(12,109)|13,091|





## 

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## 



## 

|21. Gomparative net movementinf|undsyeare|nded 31l{iarch2024|nded 31l{iarch2024|||
|---|---|---|---|---|---|
||AtI|lncome.Expenditure||Transfers/|Ar3l|
||April|||Gains|March|
||2023<br>['000|Ê'000|Ê'000|€'000|2024<br>€'000|
|Restricted Funds:||||||
|National Youth Dance Fund|124|600|(706)|164|182|
|Dame Hilda Bracket Fund|126||(2)||124|
|VúhatNext?Fund|36|129|(132)||33|
|Stratford Mobilisation||1,337|(1i329)|(8)||
|DOPODO|5||(32)|(5)|(32)|
|Breakin'Out|18|402|(418)||2|
|Development|I|42|(23)|(15)|12|
|Learning andEngagementFundS|276|768|(57e)|(4)|461|
|Programming, ProducingandTouring||||||
|Funds|301|545|(7e4)||52|
|RoseChoreographicPrize|992|37|(226)||803|
|DataAcceleratorProject|89|25|(60)||54|
|Otherrestricted funds|25|3|(18)||10|
||2,000 3,888||(4,319)|132|1,701|
|Unrestricted Funds:||||||
|Designated Funds||||||
|PeacockTheatreFund||||58|58|
|The Shakespeare'sHeadFund|402|||(25)|377|
||402|||33|435|
|GeneralFund|2,251 37,869||(35,878)|492|4,734|
||4,653 41,757||(40,197)|657|6,870|



## 

|22.Comparativeanalysis|ofnetassetsbet|weenfundsy|earended31|March2024||
|---|---|---|---|---|---|
||Fixed|assets|Cash|Othernet<br>liabilities|Nettotal<br>assets|
|||Ê'000|€'000|€'000|E'000|
|Unrestricted funds||1,020|11,540|(7,826)|4,734|
|Designated funds<br>Restricted funds<br>Total Funds|.|1,622<br>402<br>200|14,276<br>33<br>2,703|(1,202\<br> <br>(9,028\,|<br>6,Ü0<br>435<br>'1.701|





|23. Comparative fundandstâtbmen<br>2024|t of financialac|tivitiesbalance|syear ended 3|1|March|
|---|---|---|---|---|---|
||Unrestricted|Designated|Restricted||Total|
||Funds|Funds|Funds||Funds|
||Yearended|Yearended|Yearended|Yearended||
||"3lMarch|3lMarch|31 March||3lMarch|
||2024|2ß24|2024||2024|
||t'000|Ê'000|Ê'000||€'000|
|lncome||||||
|Donationsandlegacies:||||||
|Sponsorship & donations|,2,297||1,401||3,698|
|Arts Councilfunding|2,376||2,24'l||4,617|
|Charitable activities:<br>Theatrepreseqtations|28,478||125||28,603|
|Activities forr:aisingfunds:||||||
|Trading income<br>Otherincome|3,332<br>851||84||3,332<br>'935|
|lnvestmenti'ncome|535||37||572|
|Totallncome|37,869||3,888||<br>41,757|
|Expenditur||||||
|Charitable activities:||||||
|Expenditureonpresentations|27,731||2,503||30,234|
|Theatre overheads|4,583||1,662||6,245|
|Activities forraising funds:||||||
|Fundraising costs|900||80||980|
|Trading<br>TotalExpenditure|2,664<br>35,878||74<br>4,319||2,738<br> <br>40,197|
|Netlncome before lnvestment Losses|1,991||(431)||1,560|
|Unrealised<br>LossonInvestment||||||
|Properties|(60)|(25)|||(85)|
|OtherRecognisedGains.andTheatre||||||
|TaxRelief|553||189||742|
|Net lncome|484<br>2|(25',)|(242)||2,217|
|Grosstransfersbetween Funds|(1)|58|(57)|||
|Netmovement in Funds|2,483|33|(2ee)||2,217|
|NetFunds atIApril2023|2,251|402|2,000||4,653|
|NetFunds at31l.fiarch2024|4,734|435|1,701||6,870|





## 

||||Theatre|||2024|
|---|---|---|---|---|---|---|
|||Presentation|Overhead|Fundraising|Trading|T.otal|
|||Ê'000|â'000|.â'000|â'000|Ê'000|
|Executive<br>Finance<br>People|Office|786<br>2,204<br>375|,67<br>191<br>'33|59<br>167<br>28|-109<br>306<br>52|1,021<br>2,868<br>488|
|||3|291|254|467|4,377|