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← The Priory Theatre Company

2025-05-31-accounts

Registration Charity Number 506677

PRIORY THEATRE COMPANY

ANNUAL REPORT & STATEMENT OF ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2025

PRIORY THEATRE COMPANY

Contents

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|||||||| |---|---|---|---|---|---|---| |Page| |Trustees|and|Advisers||| |Annual|Report|2| |Independent|Examiner's|Report|to|the|Trustees|3| |Receipts|&|Payments|Account|4| |Statement|of Assets &|Liabilities|5| |Notes|to|the|Accounts|6| |Detailed|Receipts &|Payments|‘ij|

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PRIORY THEATRE COMPANY

TRUSTEES & ADVISERS 31 MAY 2025

Trustees

Treasurer

Independent Examiner

J Evans (Chairman) DR Main T Boulton D Main

D R Main

Wayne Gutteridge ACA FCCA HB&O Ltd Seven Stars House 1 Wheler Road Coventry CV3 4LB

PRIORY THEATRE COMPANY

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

I report on the accounts of the charity for the year ended 31 May 2025 which are set out on pages 4 to 6.

Respective Responsibilities of Trustees & Examiner The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner's Statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented within those records. It also includes consideration as of any unusual items or disclosures in the accounts, and seeking explanations from you Trustees concerning any such matters. The procedures undertaken do not provide all of[the] evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view" and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. e to keep accounting records in accordance with Section 130 of the 2011 Act; and e to prepare accounts which accord with accounting records and comply with the accounting requirements of[the][2011][Act]

have not been met; or

  1. to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Wayne Gutteridge FCCA ACA Fuo ZO AF HB&O Ltd Chartered Accountants Seven Stars House 1 Wheler Road Coventry CV3 4LB

Dated: ZY [ 4/ LOTS

PRIORY THEATRE COMPANY

ANNUAL REPORT 31 MAY 2025

Constitution

Priory Theatre Company is constituted by a Constitution dated 16 June 1977 and is a registered Charity, Number 506677.

Its address is at Priory Theatre, Rosemary Hill, Kenilworth, CV8 1BN.

Trustees & Advisers

The names ofthe present Trustees and Advisers are shown on page[1,]

Trustees' Responsibilities

The Trustees are responsible for preparing annual accounts, safeguarding the assets of the fund and keeping proper accounting records.

Charity objectives

To provide and promote appreciation of dramatic arts locally in the area we serve; Kenilworth, Coventry, Leamington Spa, Warwick , Rugby, Balsall Common and local villages. To educate and train children and young people in all aspects of dramatic and musical performance.

To promote, within the community, high quality amateur theatre through membership and performance opportunity.

Public benefit

The Trustees have considered the charity Commission's guidance on public benefit.

Review of the year

Income for the year totalled £189,126 up from £163,922 in 2024. Combined box office income for the year totalled £121,736, compared to £92,270 in 2024. Bar takings for the year totalled £39,703, an increase from the figure of £37,918 in 2024. Direct costs have risen from £87,872 in 2024 to £105,292 in 2025.

Overheads have decreased from £71,495 in 2024 to £61,680 in 2025.

The overall surplus of receipts over payments for the year was £22,154, compared to £4,555 in 2024.

The total balance on the general fund increased to £304,414 (2024: £282,260).

PRIORY THEATRE COMPANY

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 MAY 2025

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||||| |---|---|---|---| |2025|2024| |£|£| |Receipts|189,126|163,922| |Direct|costs|(105,292)|(87,872)| |83,834|76,050| |Overheads|(61,680)|(71,495)| |Surplus|for the year|22,154|4555|

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PRIORY THEATRE COMPANY

STATEMENT OF ASSETS AND LIABILITIES

AS AT 31 MAY 2025

2025 2024
£ £ £ £
FIXED ASSETS
Freehold property 168,000 168,000
Improvements to property 162,767 141,154
Furniture and fixtures 22,502 3,748
353,269 312,902
CURRENT ASSETS
Cash at bank 96,230 117,144
Cash in hand 1,064 808
Prepayments and accrued income 1,988 2,605
VAT - 2,091
Bar stocks 2,008 1,565
101,290 124,213
CURRENT LIABILITIES
Trade creditors 5,073 1,447
Accruals and deferred income 4,589 14,327
VAT 1,402 -
(11,064) (15,774)
NET CURRENT ASSETS 90,226 108,439
443,495 421341
Funds and reserves
General fund 304,414 282,260
Non- distributable reserves 139,081 139,081
443,495 421,341

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by
Va & signed on their behalf
J Evans AD Main
Se
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PRIORY THEATRE COMPANY

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2025

1. Accounting policies

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of assets, and are in accordance with applicable accounting standards and the Charities Accounting Statement of Recommended Practice (SORP). The financial statements have been prepared under FRS102 section 1A "small entities."

The principal accounting policies adopted are listed below:

a) All expenditure is accounted for excluding value added tax, and when incurred. b) Direct charitable expenditure includes the direct costs of[the][activities.]

c) Other expenditure comprises service costs incurred in support of the Charity's work. d) Freehold property is stated at market value in 2001 approximately.

2. Trustees' Expenses

No expenses were reimbursed in 2025 (2024 - £nil).

No trustee received remuneration,

3.
Fixed Assets - Freehold Property
Theatre Library Total
£ £ £
COST
At June 2024 120,000.00 48,000.00
and 31 May 2025 120,000.00 48,000.00 168,000.00
DEPRECIATION
At
 June 2024
and 31 May 2025 - - >
NET BOOK VALUE
At 31 May 2025 120,000.00 48,000.00 —168,000.00
At 31 May 2024 120,000.00 48,000.00 168,000.00
Costorvaluationat31May2025isrepresentedby:
Freehold
Property
£
Revaluation prior to 2002 139,081
Cost 28,919
168,000

PRIORY THEATRE COMPANY

DETAILED RECEIPTS AND PAYMENTS

FOR THE YEAR ENDED 31 MAY 2025

2025 2024
£ £
INCOME
Box office 117,186 87,743
Box office charity nights 4,550 4,527
Bar sales 39,703 37,918
Ice creams 9,490 6,820
Theatre and outside hire 10,264 18,501
Donations 2,000 5,000
Subscriptions 2,706 1,771
Bank interest 1,617 1,304
Grants 1,000 -
Miscellaneous 610 338
189,126 163,922
DIRECT COSTS
Set construction 24,063 14,999
Compliance 12,990 16,104
Outside hire costs 12,432 11,760
Programmes 1,543 1,345
Advertising 3,617 3,911
Sound and music 2,724 5,392
Play licences 5,837 2,410
Properties 928 820
Wardrobe and costumes 3,063 3,786
Lighting 4,937 3,541
Bar purchases 22,472 18,518
Ice creams 4,211 2,465
Scripts 6,475 2,821
105,292 87,872

PRIORY THEATRE COMPANY

DETAILED RECEIPTS AND PAYMENTS

FOR THE YEAR ENDED 31 MAY 2025

2025 2024
£ £
OVERHEADS
Stationery and printing 15 104
Cleaning and refuse 4,695 5,278
Telephone 920 765
Gas and electric 23,870 35,422
Repairs and renewals 5,784 5,098
Miscellaneous 1,638 1,100
Insurances 3,372 3,243
Watercharges 2,103 1,475
Licences 1,857 2,845
Rates 616 284
Professional fees 834 4,053
Depreciation 15,976 11,828
61,680 71,495