The Oxford Playhouse Trust (A company limlted by guarantee) Trustees, Annual Report and Financial Statements for the year ended 31st March 2025 Company registered number 2397373 Charity registered number 900039 *AEHM3285* 1711212025 COMPANIES HOUSE A06 #29 op OXFORD PLAYHOUSE The Oxford Playhouse Trust Report of the Trustees for the year ended 31st March 2025 The Trustees present their report and the audited financial statement5 of the charity for the yea¢ ended 31st March 2025. The trustees have adopted the provlsions of the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities" IFRS 102} in preparing the annual report and financial statements of the charity. Trustees of the charlty The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served durlng the year and since the year end were as follows: . D Dance {Chair) J Pillman (Vice Chair) S Eltis K Wilkes (resigned 28 November 20241 A Buonfino G Altken G Rose E Claughton ARay A Knight J 8hogal D Baker M Tuckwell O Renton (appointed 23 June 20251 Reference and admlnlstrative detalls Secreta G Baker hief utive ffic M Tweddle Charit number: 9CX)039 Com an number: 2397373 Princi al Office: 11- 12 Beaumont Street Oxford OXI 2LW Bank The Royal Bank of Scotland CAF Bank Ltd 32 St Giles, 25 Kings Hill Avenue Oxford West Malling OXI 3ND Kent ME194JQ B?rclays Bank plc 54 Cornmarket Street Oxford OXI 3HB Audltors: Wenn Townsend 30St Giles, Oxford . OXI 3LE The Oxford Playhouse T.rust Report of the Trustees lcontlnued). for the year ended 31st March 2025 Objectives and Artivities The charitable objectives of Oxford Playhouse are the promotion and advancement of the educatlon of the public. to raise the general standard of dramatic produrtion in the United Kingdom, to educate public taste, to encourage the arts of drama and music, and to stimulate public awareness and appreciation of the visual arts. Vlsion; A Playhouse for Everyone Purpose: To Inspi￿ audiences and positively impact lives by nurturing and championing creativity and artistic excellence on our stages, online and in our communities. Mlsslon: to dellver the hlghest-quality, Innovatlve and inclusive artistic programmes for all audiences and participants; and to invest in partnerships and collaborations within the cultUTal sector and Oxfordshire's communities. Our Interconnected pro8rammes: Playhouse Presents." we present and produce world-class, inspirational theatre on our stages, on tour and in community & educational settings, that entertain audiences and reflect & celebrateoxfordshire's communities. • playhouse Artists: we connect and support emerging. dèveloping and mid-career artists, to enable creative practlce and experlmentatlon; creatln8 an environment within Oxford Playhouse for innovative new work. Playhouse Communltles: worklng wlth comrnunity partners, we. deliver accessible artistlc and participatory programrnes, with a focus on breakin8 down barriers to attendance and widenin8 creatNe opportunities for all, Public benefit statement The Trustees have complied wlth their duty to have due regard to the 8uldance on public benefrt publlshed by the Charity Commission in exercising their powers and duties. Athlevements and Performance Oxford Playhouse is one of the country's leadin8 re8lonal theatres. The only not-for-profit mid-scale venue in oxfordshire, The Playhouse is at the heart of cultural life in the city and reglon, wlth a wonderfully rlch herltage, dating back to 1938, of INe performance, drama, dance, spoken word, Music and comedy, The expertise and outstanding reputatlon of the team including its technical, programmlng & production, marketlng & sales functions. ensure that it is a favoured venue on the mid-scale touring map. It also produces its own mid-scale and studio productions, Including a hugely popular pantomime, which durlng this year won a Special Recognition award from UK Pantomime Awards for innovation. A5 well as being a home for inspirational performance, The Playhouse is an active charity with artistic, social and educational aims, whlch are émbedded through its vibrant and inclusive creative learning programme. During 2024/25, Oxford Playhouse presented 526 performances1189' of which were for family audiences), selling 143,631 ticket5. 12,721 adult5 and children took part in Creatiye Learning and Community programme activities. The Oxford Playhouse Trust Report of the Trustees (¢ontlnued) for the year ended 31st March 2025 RECEIVED PROGRAMME The varied and diverse Main House programme included: the brilliant new musical Unfortunote.. The Untold Story of Ursula The Seo Witch and Heothers, The Musical,. high-quality drama including the launch of the UK tour of The Shark is Broken. Summer 1954 from Theatre Royal Bath starrin8 Dame Sian Phillips and Nathaniel Parkerand A Mon ForAIISeosons {TRB) starring Martin Shaw and Gary Wilmott, Headlong'sA Raisin in Thesun. 1927's Please Right Bock. Rebus.. A Town Called Mollce; The Schools For Scandol. Moby Dick, The Kite Runner from the novel by Khaled Hosseini, The 39 Steps from Fiery Angel, and the return of the Oxford Playhouse co- production of Pride & Prejudice. I'sort of) by Isobel McArthur. Contemporary circus company Ockham's Razor also returned with their adaptation of Hardy's classic novel, Tess. Contemporary dance included performances from Ballet Black, Akram Khan Company and Ballet Central; opera from Engllsh Tourlng Opera and Oxford Opera,, music from Katy Rusby, Kathryn Tickell & The Darkenln& Jacqul Dankworth,'RUSH The King of Reggae, Gareth Malone; Comedians included Stewart Lee Iweek long run), Lou Sanders, Ed Byrne, Griff Rhys Jones, Punt & Denls, The Scruthmy Mummies, Rich Hall, lan Stirlin& Alfie Moore, Nish Kumar, Rachel Parris. Maisie Adam, Fern Brady, Andy Zaltzman, Sarah Keyworth and Michael Mclntyre. Other one nighters Included: Uncanny. Ruby Wax I'm Not As Well As l Thought I Wos, Saltlines, Between The Covers Live. Buffy Revamped, An Evening Without Kote Bush, and Showstopper The Improvised Musical. Children's, family and schools, theatre included Northen Ballet's Honsel and Gretel, Judith Kerrfs The Tiger.Who Come to Teo, Julia Donaldson's Zoo & The Flying Doctors and Chorlie Cook's Fovourite Book, King Arthur from La Navete Bete, Pinocchio from Stuff & Nonsense, Floella Benjamin's Coming To England and Pilot Theatre's . production of Manjeet Man's Run Rebel. Productlons staged by community cornpanies included Me & My Girl and Chess from Musical Youth Company of Oxford, The Importance of Being Earnest from Oxford Theatre Guild, Funny Girl from Oxford Operatic Society, The Odyssiod performed by pupi15 from Magdalen College School, The Chinese ,New Yeor Festival Show Sn association with Oxford Brookes University, and Oxfordshire Mind's Comedy Gala. The strength of the partnership between the University of Oxford IOU) and Oxford Playhouse continued with s'trong co-productions with student companie5. SUPPOrted by the Cameron Mackintosh Drama Fund. The productions were: Les Llaisons Dongereuse&, Into The Woods. Jekyll & Hyde, and notably Shakespeare's The Two Gentlemen of Verono, directed by former RSC Artistic Director and leading Shakespearian, Sir Gre80ry Doran, as part of his Cameron Mackintosh Visltin8 Professor of Contemporary Theatre term at OU. In conjunction with Oxford Unbversity Dramatic Society. {OUDS) and the University Drgma Officer we ran 'get into student drama, workshops for Freshers. helping to familiarise new students with the bullding and the processes which resulted In much higher student engagement in Hilary term shows. Further University related programmingincluded The Axiom of Cholce written by Marcus du Sautoy, and the Annual Charles Sirnonyi Lecture, which was given this year by Anil Seth. In the Burton Taylor Studio new writin8 highlights included New Anthem's FUFC and Boy Out the City written and performed by Declan Bennett as well as return visits from 5h6n Dale Jones wlth The Duk¢ and acclaimed spoken word artist Luke Wright. We also collaborated with Tiny Ideas Festival in Oxford to present Boh Boh Flnds Home for early years audiences. OXFORD PLAYHOUSE PRODucnoNS Playhouse Plays Out Tent (Surnmer 2024) The Story Seekers Each year, The Playhouse aims to tour a piece of accessible children's theatre and accompanying creatlve workshops to schools and community settings across the county, with a particular emphasis on areas of low cultural'engagement and/or deprivation. Our Playhouse Tent show for summer 2024 was The StorySeeker5, an original piece of drama, written by Tristan Jackson-Pate and directed by Amelia Thornber. The show, aimed at KSI and KS2 children and families. brought to life lesser-known stories from around the world, and through The Oxford Playhouse Trust Report of the Trustees (continued) for the year ended 31st March 2025 them celebrated and collaboration. Duringthe tour over 1.400 school children saw the show on site within their primary schools and took part in creative workshoks. Around 1.238 audiences also saw the show in cornmunity venues which included FloFest and Oxford Children's Hospital, Blenheim Palace, andThe Leys in Witney. Funding was secured from the Lucy Group, The Pye Charitable Settlement, The MacTaggart Third Fund, Hugh Fraser Foundation, Richard Gladstone, The D'oyly Carte Charitable Trust and other anonymous trusts. which enabled the tourof 48 performances and 32 workshops to be delivered free to all audiences. Oxford Playhouse Pantomime Sleeping Beauty Yhe most originol toke on Sleeping 8eouty I have everseen." Oxford Times ,The Oxford Playhouse Pantomime. Sleeping 8eouty, written and directed by Toby.Hulsei played on the main stage from November 2024 until January 2025 and a8aln was a hugely successful festive production for Oxford Playhouse. playing to audiences of 35,151, including 9,000 schoolchildren. T.he production won the Special Recognition Award for innovation at the UK Pantomime Awards. A cast of 8 professlonal actors were Jolned on sta8e by a 14 strong Youn8 Company of.11-IS year olds, The Playhouse further developed it5 Open House Cornmunity Tickets programme, by giving away over 12CM) free tlckets to community groups. whose members might otherwise not have been able to attend. These groups included: Crossroads Oxfordshire, Bridewell Gardens, Mencap, Carers Oxfordshire. Homeless Oxfordshire, Bounce Back 4 Kids. Autism Family Support Oxfordshlrpi KEEN Oxford. Archway Foundatlon, Oxfordshire Deaf Children's Society, The Leys CDI, and Rose Hill Junior Youth Club..Access performances across the run included Audio Described (& Touch Tour), Captioned, Relaxed and Dementia Friendly (In partnershlp with Age UK Oxfordshirel. we.also worked in partnership with the Freemasons for an invited audience of children with special and additional needs. In partnership with St John's College Oxford, we piloted a new strand, Open House For Schools, which enabled us to bring 846 schoolchildren to the pantomime for free, and funded coach travel where needed, 8urton Taylor Studio Christmas Show Hurry Up Father Chrlstmas "We hod Such o magicol time." Audiencefeedbock Hurry Up Fother Christmas, wrltten by Helen Eastrnan and diretted by Sam Rayner, was a revival of an origlnal OP commission. 57 performances played to 3,232 audiences, Including 1,750 children. The production was aimed at 3- 7.year-olds with interactive elements during the show for the children to enjoy as well as the story itself. The talented cast of 2 included a multi-in5trumentalist who played music live on stage. All performances for this production were Relaxed. Children were invited to write to Father Christma5 before the show and post their letters in a special postbox, with the letters forming part of the set for the production. .ARTIST DEVELOPMENT During the year, Oxford Playhouse continued its cornmitment to working with artists and nurturing the development of their work. Oxford Playhouse staged a brand-new festival during summer 2024, QueerFest. in partnership with Pegasus Theatre, and showcasing the work of a range of LGBTQIA+ artists. Headliners forthe festival included forrner OP Evolve Artist and local writer JC Niala and award-winning theatre maker Vlctor Esses. Queer Fest also featured Scratch Night performances from upcoming artists. A hugely successful Offbeat Festival took place in September 2024. in partnership with Arts at The Old Fire Station and New Theatre, Oxford. Six productions were staged in the Burton Taylor Studio, and three artists have subsequently been supported with the onward development of theirwork. Frorn April- September 2024, Oxford Playhouse delivered the final phase of Playhouse Playmaker, a year-long playwriting course.led by writer Clare Bayley. Each writer produced a complete draft of a new play, with ex￿rpt5 performed as part of a The Oxford Playhouse Trust Report of the Trustees (continued) for the year ended 31st March 2025 showcase at Offbeat Festival 2024. Playmaker writers included: Paula David, Louis Emmitt-stern, Afsaneh Gray, Jessica Nomian, Lare Oyefusi and Sam Parker. We have subsequently offered onward development support to Afsaneh Gray for her play Exceptionol, which was recently longlisted for the Women's Prize for Playwriting In partnership wlth Pegasus Theatre and The North Wall, with support from the Oxford Cultural Anti Racism Alliance (OCARA) a new scheme called Circuit Breaker was announced, aimin8 to support the artistic development of a Global Majority led performlng arts company. The selected company - Kumba Nia will receive two-years of seed funding, plus tailored in-kind support from the partnervenues. Oxford Playhouse also worked to support artistic partner Headlong's Origins 5.0 programme for emerging. theatre directors working Outside of London. Oxford Playhouse continued the Evolve attached artlsts Scheme (Oxford People's Theatre. Stephen Bailey, Seemia Collective) with tailored mentoring 5UPPOrt, cash support and space/facllities resource. Throughout the year Oxford Playhouse offered wider opportunlties for reglonal artists, wlth artist coffee mornings, co-working space, artist masterclasses and networking sessions all taking place. CREATIVE LEARNING & PARTICIPATION The Playhouse delivered an extensive Particlpatlon prograrnme durlng 24/25, wlth a total engagement level of 12,721. Children & Young People Our weekly, term-time sesslons, Includin8 muslc & story fun wlth Hey Diddle Diddle {ages 0-5}, Playhouse Youth Theatre (ages 12-161 and Playhouse Youn8 Company117-25 year olds) successfully continued. In summer the . young company and youth theatre performed ori6lnal. devlsed pleces In the Burton Taylor Studio18T). In autumn, we delivered o Fun Palace event in the 8T, as part of the national initiative. There were audition opportunities for young people to take part in professional productions. with fourteen teenagers cast in our pantomirne, Sleeping 8eouty. In spring 25, our Playhouse Young Company participants presented a hugely successful production on the Main Sta8e,' Our Country's Good by firnberlake Wertenbaker. CommunltSe$ & Adults Through the year we ran a programme of post-show discussions around the main stage programrne, open to all to attend. The Playhouse Adult Company (ages 26+1 of 20 participants continues to have a waitin8 list, and we are looking at expanding capacity in future years. Among the projects the group worked on was an ensemble staging of a devised, original piece, performed in the Burton Taylor Studio. Social Thursdays contSnued providin8 free session5 for older and socially isolated people to explore creativity through play readings, craft activities. and music workshops. OP continued to co-chair the ROAR partnership, seeking to increase and improve accessible creative opportunities across Oxfordshire. We also provided work experience placements to young adults with additional needs, working in partnership with the charity Yellow Submarine. Our community work Included a project called Fomily By Choice, In partnership with theatre company Dot Collective, who specialise in working With older people. A series of workshops took place at Isis Care Home in Oxford, working with residents to record their storie5 and mernories. The stories were brought together for a final presented piece of theatre, and a memory and sensory room was created by at the care horne by our in- house designer, providing a legacy for the project. During the year we launched a new playwritin8 scheme for older participant5, Playmaker Later, as part of the Age of Creatwity celebrations. Creative Education Our Creatwe Education work included Primary Playmaker, our flagship literacy and creative programrne which celebrated its tenth anniversary during this year. 290 schoolchildren in Years 5 & 6 from 10 Oxfordshire primary schools took part in ten weeks of workshops delivered in their school setting by Oxford Playhouse practitioners. The workshops guided the children to write theirvery own playscript. A showcase oftheir The Oxford Playhouse Trust Report of the Trustees (continued) for the year ended 31st March 2025 work, cornprising a selettion of the children's scripts rehearsed and performed by a cast of four professional actors on the main stage, was attended by all the children who had participated in the scheme. their peers and teachers. During the year, we piloted a project entitled Open House for Schools, to open access to theatre for schoolchildren and schools who wouldn't otherwise be able to attend. This allowed all participants of Primary Playmaker to vlsit the theatre before they started work on their own plays, attending the national touring production of Floella Benjamin's Coming To Englond. All tickets and coach travel were funded through the pilot project. In addition, 4 schools were funded to take part in Primary Playmaker and over 850 schoolchildren were given free ticketg to see our pantomime Sleeping Beouty, with coach travel also funded where needed. This pilot project Wa5 generously supported by St John's College, Oxford. Our hugely popular and impactful Work Experience pro8ramrne offered 60teena8ers across S placementweeks the opportunity to learn about all asperts of professional theatre making and management, with masterclasses and semlnars led by all departments of the organisation. KEY UPDATE5 & FUTURE PLANS Wlth a strong leadershlp, senior management and governance teams in place and a new structure fully embedded, the organisation has continued its recovery from the pandemic and has strengthened its financial res11ience. Audlence numbers have returned to near pre-pandemlc levels, and the or8anisation has a renewed focu5 on increasing the reach of engagement with audiences, artists and participants. During the year'work began to dev¢lop a S-year strate8y {2026-2031) for the or8anlsatlon. with all staff. tru5tee5 and stakeholders taking part in the process. The strate8y will be published in February 2026. Workforce During the year, Oxford Playhouse ernployed 36 permanent members of staff (full and part-time). It also employed 119 contractual, freelance, or commissioned staff. The charity is supported by a team of 95 volunteers, who give their.time to assist in the Front of House operation of the theatre. This dedicated 8roup share ushering duties for each of the 560+ perforrnances during the year and also make a huge contributlon to the organisation through their advocacy within our comrnunities. Flnancial Review Despite an ongolng challen8ln8 econornlc cllmate for cultural organlsatlons, The 'Playhouse continued Its commitment to artistic and creative learning programmes for all. We continued to see recovering audience confidence in attending live èvents, and the increasing availability of touring work. This had a positive impact on income and combined with effective cost-control we generated a surplus forthe year. An increase in income Benerated from Oxford Playhouse productions on the main and studio stages was encouraginE, as was income generated from the received programme. At 31 March'2025, there was a surplus generated of £502,123 {2024: £11,6,849) and a free reseNes positlon of £665,418 (2024: £558,195). It should be noted that Oxford Playhouse received a signlflcant legacy gift during this financial year of £414,318. Reserves Pollcv Oxford Playhouse aims to maintain sufficient financial resenies to ensure stability, resilience, and Continuity of operations in the face of income fliictuatlons or unexpected costs. Reserves are defined as unrestricted funds freely available for use and exclude restricted or designated funds, fixed assets, and working capital, The Board has agreed to hold free reserves equivalent to three months of coreoperatingexpenditure Icurrently£487,5001, prov.iding a responsible. contingency against financial risk, sUPPOrting cash flow needs. and allowing time to respond effectively to changes in funding or activity levels. The level of reserves fluctuates during the year with the seasonal nature of programming and is monitored monthly. Use of reseNes to fund initiatives or projects must be approved by the Board of Trustees. The reseNes policy is reviewed annually as part of financial planning and risk management processes bythe charity's Finance The Oxford Playhouse Trust Report of the Trustees {contlnued) for the year ended 31st March 2025 & Audit Committee. This policy supports Oxford Playhouse's long-term sustainability and aligns with Charity Commission guidance on prudent financial management. Where reserves exceed the agreed target range. the 8oard wlll assess the reasons for the surplus and determlne an appropriate course of action. Options May include designating funds for future capital or artistic projects. investing In organisational development, or reallocating resources to advance strategic priorities. Any decisions will balance the need to maintain financial security with the charitws duty to apply its funds effectively in furtherance of its charitable objectives. The minimum level of resernies duringthe year ended 31 March 2025 was £303,869 and at the year end this had Increased to £665,412. As the reserves at year end exceed the target reserves policy amount, the 8oard of Trustees had confidence to invest £135,000 in a new sound systern durin8 in'August 2025, when the theatre was closed, to replace the pit lift. Funding Oxford Playhouse Trust is 8rateful to all its funders who 8en¢rously helped to support the breadth of work that The Playhouse was able to deliver. including its Creative Learning and Community Outreach programmes. In this period, Oxford Playhouse received the second year of its National Portfolio Funding from Arts Council England. grant of £386,456. At the end of the 2023-2026 NPO funding cycle, The Playhouse will also receive continuation fundin8for 26/27. Oxford Playhouse was also generously sUPPOrted by it5 Othercore funders: the Unlversity of Oxford, who provide an annual grant of £101,040; St John's College, Oxford who support the organisation by an a8reed peppercorn rent for The Playhouse building5 on Beaumont Street; and Oxford City Council who provided £20,000 funding through the Blg Ideas programme. Ourlng the yearSt John's College also generously supported the pilot project Open House for Schools, with a grant of £30,000. to enable access to arts education and live theatre experience for prlrnary schoolchlldren living In areas of low cultural provision wlthin the region. Other funding during the year, predominantly supportin8 Oxford Playhouse Creative Learnin8 and Cornmunity Outreach programmes, was 8enerou51y provided by: Emmanuel Kaye Foundatlon, Mr & Mrsj A Pye. Charitable Settlement, Doris Field Charitable Trust, 8outell Bequest Trust, Schustercharitable Trust, Hugh Fraser Foundation, Mactaggart Thlrd Fund, Lord Farringdon Charltable Trust. Richard'Gladstone, The Beechin8 Trust. and other anonymous trusts, regular donors & patrons of Oxford Playhouse. Support for the installation of new Pit Lift wa5 given by: The Thompson Farnlly Trust, The Aurelius Trust and the Oxford Theatre Guild. Corporate support was also received from". Lucy Group and Blenheirn Palace. Investment powers and policy Under'the Mernorandum and Articles of Lssociation. the charlty has the power to invest in anyway the trustees wish. The trustees, investrnent policy is to obtain as high an income as Possible with low risk. Such funds should be easily accessible given the trustees, intention to spend designated funds and the requirement to hold liquid funds to meet trou8hs in cash flow and unexpected liabilities. Risk Management The trustees are responsible for the management of risks faced by the or8anisation. The board carries out a formal review of the charitVs risk mana8ement processe5 on an annual basis and the charity maintains a risk re8i5ter. Risks are identified, analysed and assessed, in terms of likelihood and probable impact, with mitigation actions. rnonitoring, ownership and controls in place. We recognise'three categories of risk management: Avoidance - mana8ing to avoid the occurrence of the risk or eliiiiinating its cause. Mitigation- managing the risk to reduce the impact of the risk if it does occur, e.g. insurance. Acceptance accepting the consequence of the risk either by Pfoducin8 a contingency plan to implement rfthe risk event occurs or by adjusting plans and intentions to cope with its efferts. The Oxford Playhouse Trust Report of the Trustees (continued) for the year ended 31st March 2025 We considerthree outputs when managing risk: Direct action -, measures to avoid or mitigate the risk occurring or reducing the consequences of the occurrence. Contingency - a plan to implement if risk occurs. action undertaken in anticipation of risk occurrin8. Review- setting a time at.which the risk identification and analysis is reviewed and revised if necessary. Maln risks that carry a potentlal threat to the organisation have been identified as follows: Low level of free reserves: management and the board attively review reserves levels on an at least quarterly basis; maintaining current healthy reserves position, and building financlal resilience is strategic objective and prioritised in decision making. Economic conditions: current economic uncertainty, hlgh Interest rates, Inflation. Sncreased national Insurance employer contributions, and cost of living crisi5 may impatt booking behaviour of audiences; miti8ation comes from robust financial deals around shows, dynamic ticket prlcln& Introductlon of a transaction fee, realistic income tarBet settin8, combined with strengthenin8 and dlversifying funding from non-programme sources. Availability of high-quality touring shows. Although improvlng, this risk continues within the sector. Our position is strengthened by a growing reputation for strong ticket sales attractlng visiting producers and an increase in co-productions. Potential instability caused by changes In leadership and governance. The long-term effect of the pandernic on the theatre industry and the pressures of securln8 sufflclent funding with greater competition Other external fattors affecting the UK'5 economic/Polltlcal stability and rlsks of cyber.attacks. Governance Oxford Playhouse Trust is a registered charity and company limited by guarantee. Oxford Playhouse is governed by an independent, diverse, and experienced Board of Trustees. in accordance with the objectives and procedures set out in the organisation's Memorandum and Articles of Association 25 May 1989, arnended 22 september 2001 and 23 September 2006. The liability of members is limited by guarantee to an amount not exceeding £1 per member. At the balance sheet date there were 12 members. The Board of TTU5tees meet Quarterly with the Executlve and by exception ffj required. Members of the 5enlor Management Team ISMTI join sessions by invitation. Departmental reports, including progress against Arts Council England investment principles, and artivity actlons plans. are produced for each meetlng. Management Accounts, Balance Sheet, Cash Flow Statement and Funds Summary are emailed monthly for review to all Tnjstees and dlscussed at Flnance Committee and Board meetings. Vision and sttategy are dlscu5sed and developed with Trustees and SMT at an annual Board Away Day. The Board is supported by three sub-committees chaired by trustees. The Governance & Nominations committee meets as needed, whilst the Finance & Risk and the Programme. Productions & Participation comrnittees meet quarterly. There are also three Taskforces chaired by staff members (Dynamism & Development,. Equity, DNersity & Inclusion; Buildings & Sustainability), with each committee having its own terms of reference. All Board and Comrnlttee meetings are recorded, and minutes circulated to Trustees and auditors. The Board is responsible for considering and formally ratifying recommendations made by the sub committees. The Finance Committee is responsible for appointing an auditor every five years. The Auditor presents the year-end accounts and audit findings to Trustees. The Oxford Playh'ouse Trust Report of the Trustees (continued) for the year ended 31st March 2025 Appointment of Trustees The Memorandum and Articles of Association of The Oxford Playhouse Trust stipulate that the appointment of trustee5 is as follows: Two by The University of Oxford one by St John's College, Oxford, and at least four bv the company in general meeting. The Board appointed Mrs. Debbie Dance, who is an existing Board member, as Chair in March 2023 and she will remain in post until September 2026. In November 2024, Katherine Wilkes stepped down as a trustee and was thanked by the Board for her contrlbution as a trustee and also Chalr of the Finance Cornmlttee. Vlc&ChairJoe Pilllman served as an interim Chair of the Finance Committee, until the appointment of David Renton in 2025. Leadershlp & Management The or8anisation is led by Mike Tweddle, Artislic Director & Chief Executive Officer and Marianne Jacques, Executive Director, with a senior management team of 6 heads of departrnent. Key Management Personnel Remuneration The Trustees consider the Board of Trustees, the Artistic Director & CEO, Executive Director and the Senior Management Team to comprise the key management personnel of the charlty, in charge of directing and controlling the charity, and overseeing day to day operations. All Trustees give of their tirne freely and no Trustee remuneration was paid in the year in their capacity as Trustees. Details of Trustee expenses and related party transactions are disclosed In note 9 to the accoynts. Trustees are required to disclose all relevant interests and, in accordance with the Trust's policy, withdraw frorn decisions where a confllct of interest arises. The pay of the senlor leadershlp team is reviewed annually and is normally Increased in accordance with average earnings. Remuneration Is reviewed to ensure that It is falr and in line with similar roles internally and externally. Trustees are required to disclose all relevant interests and withdraw from decislons where a conflirt of Interest arlses. Related partles Arts Council England, The University of Oxford and Oxford City Council provide essential core funding and have a nominated representation on the board. In the case of Oxford Clty Councll, the nomlnated Individual is non- voting observer. St John's Colle8e, Oxford, which is the freeholder of The Playhouse bullding, also nominates board member. Detalls of transactlons wlth these or8anisations are prov5ded in the notes to the accounts. The Oxford Playhouse Trust Report of the Trustees (continued) for the year ended.31st March 2025 Statement of Trustees, responsibllities The Trustees (who are also directors of The Oxford Playhouse Trust for the purposes of cornpany law) are responsible for preparin8 the Trustees. Annual Report and the financial statements In accordance wlth applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requlres the Trustees to prepare financial stateffients for each financial year, whlch glve a true and fair view of the financial position of the charitable company and the incoming resources and application of resources, including the income and expenditure, of the charltable company for the year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; observe the rnethods and principles in the Charities SORP 2019 IFRS 1021; make judgements and estimates that are reasonable and prudent: state whether applicable UK Accountlng Standards have been followed; and prepare the financial statements on the 80ing concern basis unless it Is inapproprlate to presume that the charitable company will continue in operation. . The Trustees are responsible for keeping adequate accounting records that are sufflclent to show and explaln the charitable company's transactions and disclose with reasonable accuracy at any time the financial p051tion of the charitable company and enable them to ensure that the financlal statements cornply wlth the Companles Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularitles. Dl$closure of Informatlon to the auditors .We, the directors of the cornpany who held office at the date of approval of these Flnancial Statements as set out above, each confirm, $0 far as we are aware, that". there Is no relevant audit Information of which the company's auditors are unaware: and we have taken all the steps that we ought to have taken as directors to make ourselves aware of anv relevant audit information and to establish that the company's auditors are aware of that information. Thi5 report has been prepared having taken advantage of the small companies, exemption in the Companies Act 2006. By order of the trustees D Dance {Chair of Trustees) 9th December 2025 io Independent Auditors. Report to the Members of The Oxford Playhouse Trust Opinion We have audited the financial statements of The Oxford Playhouse Trust for the year ended 3tst March 2025 which comprise the Consolidated Statement of Financial Activities. the Consolidated and Charity Balance Sheet, the Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financlal Reporting Standard applicable in the UK ond Republic of Irelond (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and parent charitable compan¢s affalrs as at 31st March 2025, and of the group's incoming resources and application of resources, including its income and expenditure. forthe year then ended- have been properly prepared in accordance with Unlted Kingdom Generally Accepted Accountin8 Practice: and have been prepared in accordance wlth the requirements of the Companies Act 2006. 8asi$ for oplnlon We condurted our audit in accordance with International Standards on Auditin8 (UK) {ISAs {UKII and applicable law. Our responsibilities under those standards are further described In the Auditorfs responsibilities for the audit of the financial statements sedion of our report. We are independent of the group and parent charitable company in accordance wlth the ethical requlrements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responslbilities in accordance with these requirements. We believe that the audlt evldence we have obtained is suff icient and appropriate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded that the trustee5' use of the going concern basis of accountlng In the preparatlon of the financial statements IS opproprlate. Based on the work we have performed. we have not identlfSed any materlal uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charttable compan￿5 ability to continue as a 80ing concern for a period of at least twelve months from when the financial statements are authorised for issue. Our ￿sponsIbIlItIeS and the responsibilities of the trustees wlth respect to going concern are de5cr5bed In the relevant Sections of this report. Other Inforniation The other information comprises the information included in the trustees, annual report, other than the financial statements and our auditorf5 report thereon. The trustees are responsible for the other. information. Our opinion on the financial Statements does not caver the other information and, except to the extent otherbvise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. li Independent Auditors. Report to the Members of The Oxford Playhouse Trust (¢ontinued) In connection with our audit of Ihe financial statements, our responsibilty is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstaternent in the financial statements or a material misstatement of the other information: If, based on the work we have perforrned, 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 thls regard. Oplnions on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustee5' report lincorporatin8 the directors, report) for the financial year for which the financial statements are prepared is conslstent with the financial statements; and the director5, report included withln the trustees, report has been prepared In accordance wlth applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the li8ht of the knowledge and understanding of the charitable company and Its envlronrnent obtained in the course of the audit, we have not identified material misstatements in the directors, report included withln the trustees, report. We have nothlng to report In respect of the followin8 rnatters in relation to which the Companles Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the parent charitable company, or returns. adequate for our audlt have not been received from branches not visited by us. or the parent charitable company's financial statements are not in agreement with the accounting records and returns. or certain disclosures of directors, remuneration specified by law are not made; or we have not received all the information and explanation5 we require for our audit; or the trustees were not entitled to prepare the financial statements in accoTdance with the small companies, re8ime and take advantage of the small companies, exemption5 in preparin8 the directors, report and from the requirement to prepare a strategic report, Responsibilities of trustees As explained more fully in the directors, responsSbllitles statement, set out on page 10, the trustees {who are also the directors of the charttable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they 8ive a true and fair view, and for such internal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern. disclosin& as applicable, matters related to going concern and usin8 the golng 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 realistlc alternative but to do so. Auditoes responslbilities for the audit of the financlal Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi$5tatement, whether due to fraud or error, and to issue an auditorfs report that includes ouropinion. Reasonable assurance is a high level of assurance, but is not.a guarantee that an audit 12 Independent Auditors, Report to the Members of The Oxford Playhouse Trust Icontinued) conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud orerror and are considered material Sf, individually or In the aggregate, they could ￿aSonablY be expected to Influence the economic decisions of users taken on the basis of these financial . statements. We communicate wlth those charged wlth governance regarding. among other matters, the planned scope and timing of the audit and significant audit findings, includihg any significant deficiencies in internal control that we identify durlng our audlt. Irregularlties, includlng fraud, are Instances of non-compliance wlth laws and regulations, We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, Including fraud. The specific procedures for this en8a8ement and the extent to which these are capable of detecting irregularitles, including fraud is detailed below: Enquiry of management, those charged with governance around actual and potential litigation and claims; Enquiry of entity staff in tax and compliance funrtions to identify any instances of non-compliance with laws and regulations; Reviewing minutes of rneetings of those charged with governance; Reviewlngfinancial statement disclosures and testln8to supportln8 documentatlon to asse55 compliance with applicable laws and regulations: Performing audit work over the risk of management override of controls. includln8 testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accountin8 estimates for blas. Because of the Inherent Ilmitations of an audlt, there is a rlsk that we will not detect all Irregularlties, includin8 those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that cornpliance with a law or regulation 15 removed from the events and transactions reflected In the financlal statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regardin8 irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgeryi coIIuslon. om1s5ion or misrepresentation. A further descrlption of our responsibllities for the audit of the flnancial statements is located on the Financial . Reporting Council's website at.. www.frc.or8.uVauditorsresponsibilities. This description forms part of our auditorf5 report. Use of our report This report is made solely to the charitable company's members. as a bodyi in accordance wtth Chapter 3 of Part 16 ofthe Companies Act 2006. Our audit work has been undertaken sothatwe rnight state tothe charitable company's members those rnatters we are required to state to them in an auditorfs 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 the charitable compantys members as a body, for our audit work, for thi5 report, or for the opinions we have formed. Lee Baker FCA Isenior Statutory Auditor) For and on behalf of Wenn Townsend Statutory Auditor 30 St Giles. Oxford OXI 3LE 9th December 2025. 13 The Oxford Playhouse Trust Consolidated Statement of Financial Activities (including Income and expenditure account) for the year ending 31st March 2025 Note Unrestrlcted Designated Funds Funds Restricted Funds Total Funds 2025 Total 'Funds 2024 Income from: Donation5 and legacies Charitable activities Other tradin8 activities Other income Investments 1.032,800 3.311,177 539,940 140,334 132.699 1,173.134 3,443.876 539.940 160.108 16.643 783,638 3,177.407 S14,922 88,197 11,844 4a 4b 160.108 16,643 Totsl incame 4,900,560 433.141 5.333.701 4.576,008 Expendlture on: Raising funds Charitable activities Trading to generate funds 293,570 3.620.414 439.528 10,515 49,072 10,515 27,634 352,696 27,634 331,719 4,022.182 477,677 309,759 3,714.009 435,391 Total expendlture 4,353.512 70,102 407,964 4,831,578 4,459,159 Net In¢ome/(expendlture) 547,048 170.1021 25,177 502,123 116,849 Transfer between funds 1439,8311 428,507 11,324 Net Incomellexpendltuiel fter transfers 19 107,217 358,405 36,501 502.123 116,849 Recon¢lllatlon of Funds Total funds brought forward . Total funds carrled forward 19 19 558,195 398,983 1.238.041 2,19S,219 2,078.370 665,412 757,388 1.274,542 2.697,342 2,195.219 The statement of flnancial activltles includes all gains and losses reco8nSsed in the year. All incoming resources and resources expended derive from contlnulng activitles. The notes on pages 17 to 32 form part of these financial statements 14 The Oxford Playhouse Trust (Company Number 23973731 Balance sheet as at 31st March 2025 Group Charity Note 2025 2024 2025 2024 Flxed assets Tangible assets Investments li 12 1,204,937 1,383.665 1,204,937 1,383,665 1.204,937 1,383.665 1,204.938 1,383,666 Curient assets Stock Debtors Cash at bank and In hand 13. 14 12.209 281,714 2.082.436 13,393 316,457 1,333,973 12,209 168,264 2.082.436 13,393 316,457 1.333.973 2,376,359 1,663,823 2,262.909 1.663.823 Current Ilabllltles Creditors falling due within one year 15 1883,9541 1852.2691 1883,9541 1852,2691 Net current assets 1.492,405 811.S54 1.378,9S5 811.554 Net assets 2,697,342 2,195,219. 2,583,893 2,195,220 The funds of the charlty Ilestricted income funds Unrestrlcted income funds: General Oesi8nated 19 1.274,542 1.238,041 1.274.542 1.238,041 665.412 757,388 5S8,195 398,983 S51,963 757.388 558,196 398,983 Total unrestricted funds 19 1,422,800 9S7.178 1,309.351 957.179 Totsl ¢harlty lunds 2,697,342 2,195,219 2,583.893 2,195,220 The financSal statements have been prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies. These financlal statements were approved by the trustees on 9th December 2025 and were signed on their behalf by: D Dance (Chair of Trustees) The notes on page5 17 to 32 form part of these financial staternents 15 The Oxford Playhouse Trust (Company Number 2397373) Statement of Cash Flows for the year ending 31st March 2025 Note 2025 2024 Net cash flow from operatlng activitles 23 743,900 139.782 Cash flow Irom Investing actwttles Payments to acquire tangible fixed assets Bank interest received li 112.0101 16,573 141,7791 11,844 Net cash flow'frorn Investlng.a¢tlvities 4,563 129.9351 Net Increase In cash and cash equlvalents 748,463 109.847 Cash and cash eqylvalents at l$t Apfll 2024 1,333.973 1.224.126 Cash and cash equlvalents at 31st March 2025 2,082,436 1,333.973 Analy51s of ¢•$h and cash equivalents: .Cash at bank and in hand 2,082,436 1,333.973 Total Cash and cash equlvalents 2,082.436 1,333,973 16 The Oxford Playhouse Trust Notes to the accounts for the year ended 31st March 2025 I Summary of significant accounting policles a) General Information and basls of preparation Oxford Playhouse Trust Is a company limited by guarantee governed by its memorandum and articles. of association dated 25th May 1989 and amended 22nd September 2￿1 and 23rd September 2003. It is registered as a charity with the Charity Commission in the United Kingdom. In the event of the charity being wound up. the liability in respect of the 8uarantee is limited to £1 per member of the.charity. The address of the registered office is given in the charity information on page l of these financial statements. The nature of the charitws operations and princlpal activities are Included In the trustees, report. The charity constitutes a public benefit entity as defined by FRS 102. These accounts have been prepared on an accruals b35is and include income and expenditure as they are earned or incurred, ratherthan.as cash Is received or paid. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Staternent of Recommended Practice applicable to charities preparin8 their accounts in accordance wlth the Financial ReportSn8 Standard appllcable In the UK and Republlc of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102}, the Charities Act 2011. and UK Generally Accepted Accounting Practice. The flnanclal statements are prepared on a 8oln8 concern basis under the historlcal cost conventlon, Modified to include certain items at fair value. The financial statements are prepared in sterling which is the functlonal currency of the charity and rounded to the nearest £. The s18nifltant accountin8 policies applied In the preparatlon of these flnancial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. b) Group tinancial statements These financial statements consolidate the results of the charity and its wholly owned subsidlary Oxford Playhouse Productions Limitedon a line by line basis. Aseparate Statementof Financial Activities, or income and expenditure account, for the charity itself is not presented because the charity h35 taken advanta8e of the exemptions afforded by Section 408 of the Companies Act 2006. c) Funds Unrestrlcted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated forother purposes. Oesignated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The airn and us¢ of each desl8nated fund is set out In the notes to the financial statements. Restricted funds are funds whlch are to be used in accordance wlth speciflc restrlctions Imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statement5. 17 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 I Summary of sl8nlficant accounting pollcles d) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it Is probable that the incorne will be re￿ived. For donations to be reco8nised the charity wlll have been notifled of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditlons is within the control of the charity and it is probable that.they will be fulfilled. No amount is Included In the flnanclal statements forvolunteertirne in linewlth the SORP {FRS 1021. Further, detail is given in the Trustees, Annual Report. For legacies, entitlement is the earlier of the charity being notrfied of an impending distribution or the legacy belng received. At this point income is reco8nised. On occasion le8acies will be notified to the charlty where It is not possible to measure the amount expected to be distrlbuted. On these occasions, the legacy 15 treated as a contingent asset and disclosed. Income frorn trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income Is recelved in exchange for supplylng goods and servlces In orderto ralse funds. and is reco8nised when entitlement has occurred. The charlty receives government grants vla Arts Councll England and Oxford City Councll.. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met. It Is probable that the Income will be received, and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Investment income Is all earned from cash holdings in bank deposit accounts. Other Income includes gains on disposals of tangible fixed as5et5 and currency revaluations. (e) Expendlture reco8nltlon All expenditure Is accou4)ted for on an accruals basls and has been classified under headin8S,that a88regate all costs related to the category. Expenditure is recognised Whe￿ there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: Costs of raisins donations and le8acles includes salaries and the costs of fundralsing events and promotional material; Expenditure on charltable activities Includes production costs and fees pald to visiting companies, alon8 with salaries and costs of providing educational experiences to schools.and the public; and Costs of tradin8 to 8enerate funds represents those items not fallin8 into the categortes above. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. 18 The Oxford Playhouse Trust Notes to the accounts (Continued) for the year ended 31st March 2025 I Summary of signlficant accountlng policles (contlnued) (f) Support costs allocation Support costs are those that assist the work of the charlty but do not directly represent charitable activltles and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Overheads have been allocated on a per capita basis. Fund-raising costs are those incurred in seeklng voluntary contributions and do not include the cost5 of disseminating information in support of the charitable activities. The analysls of these costs is included in note 6. 8) Tanglble Ilxed assets Tangible fixed assets are stated at cost lor deerned costl or valuation less accumulated depreciation and accumulated impairment losses. Cost Includes costs directly attributable to making the asset capable of operatin8 as intended. Depreclation is provlded on all tangible fixed assets, at rates calculated to wrlte off the cost, less estimated residual value, of each asset on a systematlc basis over Its expected useful life as follows: Leasehold improvements Fixtures and flttings Computer equipment Llfe of leasè {endlng October 2037) 5-20% straight Ilne 20-25% straight line h) Stocks Stock is Included at the lower of cost'or net realisable value. Stock consists of purchased goods for resale. i). Debtors and creditors recelvable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from Impairment are recognised in expenditure. J) Provisions Provisions are recognlsed when the charlty has an obllgatlon at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. k) Leases Rentals payable and receivable under operatln8 leases are charged to the SOFA on a stralght line bass over the period of the lease. l) Forelgn currency Foreign currency transactions are initially recognised by applying to the foreign currenty amount the spot exchange'rate between the functional currency and the foreign currency at the date of the transaction. Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. 19 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 1 Summary of 518nificant accounting policies qcontinued) m) Employee benefits When ernployees have ￿ndered servlce to the charity, short-term employee benefits to whlch the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that seniice. The charlty operates a defined contribution plan for the benefit of its employees. Contrlbutlons are expensed as they become payable. n) Tax The charity is an exempt charitywithinthe meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out In Paragraph I Schedule 6 Finance Act 2010 and therefore St rneets the definition of a charitable corripany for UK corporation tax purposes. o) Golng Concern The financial statements have been prepared on a golng concern basls as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authori5ing these financial statements. .They have concluded that the bud8eted Incorne and expenditure is sufflcient with the level of resenles held for the charlty to be. able to continue as a going concern. p) Judgements and key sources of estlmation uncertalntv The preparation of the financial statements requires the Trustees to make Judgements, estimates and assumptlons that affect the amounts reported. These estlmates and ludgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In preparing these financial statements, the Trustees have made the following judgements: Basis of allocation of sUPPOrt costs (note 6) Support Costs totalling £915.882 (2024.. £1,003,178) are allocated to expenditure categorles In the Statement of Financial Activities based on an estimate of the time spent on these activities. Estlmate of useful econom1¢ Ilf¢ of fixed assets Inote 11) As noted in note Ig above, fixed assets totalling £1,204,93712024: £1,383,665) are depreciated on strai8ht line ba515 based on an Inltial estimate of thelr useful economic lives. 2 Income from donations and legacies 2025 2024 Gifts Legacies 'Oxford University Grant Oxford City Council Grant Arts Council England 251,320 414.318 101,040 20,000 386,456 275,132 102,0S0 20.0 386,456 1,173,134 783,638 In 2025, income from donations and legacies attributable to restricted funds totalled £140,334 (2024: É115.950}. 20 The Oxford Playhouse Trust Notes to the accounts (Continued) for the year ended 31st March 2025 3 Income from charitable artlvlties 2025 2024 Income relating to presented programme Admission Charges & Hire Fees.. Oxford Playhouse Burton Taylor Studio Membership Theatre Tax Relief 2.399,902 14,335 40,813 113,450 2.199.239 22,090 28,263 95,347 Income from In-house Productions and Touring: Performances at Oxford Playhouse Performances at Bu'rton T.aylor Studio Performances on tour 810.473 48,226 1.126 753,365 39,627 13,204 Education related income.. Admission & Workshop charges 1S.SS1 26,272 3,443,876 3.177,407 In 2025, income from charitable artivities attributable to restricted funds totalled £132,699 {2024: £1,862). 4a Income from other trading activities 2025 2024 Tickets Oxford Agenty Bar and Caterin8 operation BT Management Fee5 Sponsorship 59.161 389.943 85.836 5,000 50,144 370,892 84,986 8,900 539,940 514,922 In 2025, ng income from trading activities was attributable to restricted funds12024: £nill. The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 4b Other Income 2025 2024 Restoration Levy 160.108 .88,197 160.108 88.197 In 2025, other Income attributable to restricted funds totalled £160.108 {2024: £88,197). 5 Income from Investments All of the investment Income arlses from Interest bearing deposlt and current accounts. In 2025, no incorne from investments was attrlbutable to restricted funds12024: £nil). 6 Total resources expended Ch•rStable Artlvltles Raising Generating Funds Funds Total Programme Produrtlons Educatlon 2025 Dliect Costs Production Costs Staff Cost5 (note 101 Cost of Sales 1.299,441 8S4,444 640,150 217,495 63.537 15,535 2,003,128 I,S53,535 151,448 202.095 5,490 233.030 233,030 151,448 Marketin8 Activity FundraisinglGala Cost 161.090 41,005 5.490 Support Costs Governance Inote 71 Premises Costs Irrecoverable VAT. Depreciation IT Costs Administration 5.673 39,584 5,673 39,584 20,802 145,140 234.791 103,473 10,915 61,400 5,295 36,945 .59,765 26,338 2,778 15,629 37,822 263,890 . 294.556 188,133 19,845 111,636 2,638 28,220 2,977 16,745 28,220 2,977 16,745 1.882 199 1,117 331,719 477,677 2,891,496 1.045,400 85.286 4.831,578 22 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 6 Total resources expended (¢ontlnued) Prfor year Charltable Actlvltles Ralslng Generatini Funds Funds Total 2024 Programme Productions education Dirert Costs Production Costs Staff Costs (note 10) Cost of Sales Marketing Activity FundraisinglGala Cost 1,216,820 729,666 510,404 185,733 65,220 13,267 1,792,444 1,326,665 130,140 202,225 4,508 199,000 199,000 130,140 161.194 41,031 4.508 support Costs Governance loote 7} Premises Costs 'Irrecoverable VAT Depreciation IT Costs Administration 12.164 ' 38,507 12,164 38.507 44,600 141,194 235,013 108,641 7,365 87.789 11,353 35,940 59,821 27,6S4 1,875 22.346 811 81,092 256,715 294,834 197,530 13,390 159,615 2,567 29.630 2.008 23.942 29,630 2,OD8 23,942 1,975 134 1.596. 309.759 435,391 2,732.282 896.157 8S.570 4,459,159 Included In the above15 £407,964 {2024: £316,877) charged to restricted funds. Governance costs 2025.. 2024 Auditor remunerètlon for audit Atsditor remuneration for non-audit Legal and professional fees Trustee Expenses 13,455 17,069 6.727 571 10.000 10.006 60,993 93 37.822 81.092 Net (expenditure) This is stated after chargingllcrediting}: 2025 2024 Depreciation Loss on disposal of fixed assets Payments under operating leases Auditor's remuneration Non-audit remuneration 188,133 2.605 24.44S . 13,45S 17.069 197.530 61,350 io,o(N) lo,￿6 23 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 Trustees, and key management personnel remuneration and expenses The trustees neither received nor waived any remuneration duringthe year (2024: £nlll. The total amount of employee benefits received by key management personnel is £449,373 12024: £232,534). In addition to the board of trustees, the charity considers its key mana8ernpnt personnel comprise: Artistic Director & CEO Executive Director Director of Programming & Creative Partnerships Finance Controller Technlcal Director & Head of Production Director of Operations No trustees are accruing penslon arran8ements12024: Nonel. Durlng the year, Trustees were reimbursed . expenses totalling £176 (2024: £5731 for travel costs. A total of £206 was paid directly to third parties on behalf of Trustees, for subsistence. 10 Analysis of staff costs and numbers 2025 2024 Wages and Salaries Social security costs Defined contribution pension costs 1.406,522 119,782 27.231 1,205,294 95,475 25,896 I,SS3.535 1,326,665 Number of employees receiving renumeration in exce5$ of £60,000: 2025 Number 2024 Number In the band.. £60,001- £70,000 £70.001- £80,000 The average monthly number of employees and full-time equlvalent {FTE) durin8 the yearwas as follows". 2025 Nurnber 2024 Number Pro8rammin&' Produttion5. Education. Marketin8. Development, Operations Front of House. Box Office and BarlCaterin& Admin and Finance Technical 17 18 li io 35 28 The average headcount.for the year was 75 employees (2024: 68). 24 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 11 Tanglble flxed assets Group and charlty Leasehold Improvements . Fixtures & ffttlngs Computer equipment Total Cost At 1st April 2024 3,125,191 1,523,089 241,44fj 4,889,726 Additions Dlsposals 5.427 6,583 13.126) 12,010 13.1261 At 31st March 2025 3,125,191 1,528.516 244,903 4,898,610 Depre¢latlon At 1st April 2024 2,123,633 1,200,937 181,491 3,506.061 Charge for year Olsposals 83.471, 70.962 33.700 15211 188,133 IS211 At 31st March 2025 2,207,104 1,271,899 214,670 3,693.673 Net book value At 31st March 2025 918,087 256,617 30,233 1,204,937 At 31st March 2024 1.001,558 322.IS2 S9.955 1,383,665 12 Investment5 Charlty 2025 1024 100 £1 ordSnary sha￿5 in The Oxford Playhouse Lirnited. l £1 ordinary share in Oxford Playhouse Productions Limited Provision against investment in'The Oxford Playhouse Limited loo (iooi (100) At 31st March 2025,. The Oxford Playhouse Llmited (registered. In England and Wales) had'aggregate capital and reserves of £100. The company is dormant and there were no gains or losses for the current or previous year. The investment has been impaired to nil as the subsidiary is not trading. 25 The Oxford Playhouse Trust Notes to the accounts (continued). for the year ended 31st March 2025 12 Investments {contlnued). Oxford Playhouse Produrtions Limited {re8lStered in England and Wales) is a wholly owned subsidiary of The Oxford Playhouse Trust. Summary of results for Oxford Playhouse Productions Limited are as follows: 2025 2024. Assets Liabilltles 113,450 95,219 ' Funds 113,450 95,219 Income Expenditure 630,016 1630,016). 570,613 IS70.6131 ' Net profit Orher incorrTe'_Theatre tax credits 113,450 95.218 Operatln8 proflt 113,4SO 95,218 13 Sto¢k Group and charlty 2025 2024 Goods for resale 12.209 13,393 14 Debtors Group 2025 2024 Trade debtors Other debtor5 Prepayments and atcrued income 55,222 1,762 224,730 34,597 1,335 280,525 281.714 316,457 26 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 IS Creditors falling due within one year .Group and charlty 2025 1024 Trade Creditors Social Security & other taxes Other Creditors and Accruals Deferred income Amount owed to subsidiary companies 282,448 41,357 156.539 403,510 loo 143,774 40.125 200.423 .467,847 loo 883.954 852,269 16 Deferred income Deferred income cornprises advance ticket sales and grants received for projects taking pla￿ in the next financlal year. 2025 2024 Balance at 1st April 2024 467.847 343,532 Amount released to incoming resources Amount deferred in year 1467,847 403.510 1343.5321 467,847 Balance •s at 31st March 2015 403.510 467,847 17 Leases Operatln8 leases At the balance sheet date, the group had total future minimum lease payments under non-cancèllable operatin8 lease5 are as follows: 2025 2024 Not later than one year Later than one and not later than five years Later than five years .24.689 73,917 34.020 25.012 83.922 1.479 132.626 110.413 27 The Oxford Playhouse Trust Notes to the accounts Icontinued) for the year ended 31st March 2025 18 Capltal commltments At the balance sheet date, The Oxford Playhouse Trust had committed to spend £125,92712024: £nill in relation to major stage renovations. A total of £37,778 of this commitment was paid during the year and is included within prepayments. 19 Fund reconciliation Unrestrlcted funds .Balance at 1st April 2024 Incomin8 Resoufces Resources Expended Transfers Balance at 31st March 2025 General Fund Designated funds: R C Cavrthorne Legacy Desi8nated Pit Lift Designated FiJ¢ed Assets 558.195 4.900,560 14,353.5121 {439,8311 665,412 414.318 414,318 79,125 263.945 72.125 326,858 7,000 170,1021 7.189 957.178 4.900,560 14.423.614) 111.3241 1,422,800 Re5trlrted Income funds Balance at 1st Aprll 2024 ' Incorning Resources Resourfes Expended Transfer$ Balance at 31st March 2025 Oxford Playhouse: Leasehold Improvements Oxford Playhouse: Fixture5 and Fittin85 Tent Creative Learning Participation Communities Cameron Mackintosh building Works Creative Platforms 94S,297 111,511 55.000 16,059 9.495 6.203 94.476 173,8591 (44.1711 156.7521 139,7751 124,6801 1114.5231 151.4531 12,7SII 159.0801 61,294 812,358 128,634 38,001 26,807 29,873 35,703 200.917 2,249 39,753 50,523 45,058 132.699 160,108 5.000 11.324 12,2141 1,238.041 433,141 1407,9641 11.324 1,274,542 Deslgnated fvnds C Cawthorne Legacy: 'received as an'unrestricted gift and designated by the trustees, to be used as match funding for a future capltal project. A steering committee wlth ex.officio members wlll be appolnted If capital project is proposed. Designated Pit Ltft: To replace the.old pit lift mechanism beneath the front of the stage. allowing. flexibility of staging options and orchestra plr. Replacement work to happen in summer 2025. Designated Flxed Assets: This is the cost of fixed a55ets purchased from unrestricted surpluse5. Additions are capitalised. and defined as designated funds with a fund transfer from unrestricted funds. Depreciation ori such assets Is charged to the designated fund over their useful economic life per note 18. Restrirted income funds Oxford Playhousè: Lea5ehold'lmprovements: Capital Funds raised to refurbish The Oxford Playhouse. Oxford Playhouse: Fixtures and Fittin8s:'Capital Funds raised to refurbish The Oxford Playhouse. Tènt: A decorated marquee that travels to schools and community groups with interacrive play. Creative Learning: Programmes to support literacy for children and young people. Participation Communities: Participation Outreach community engagement project. Cameroh Matklntosh: To underwrite any losses in¢urred on student productions taking place in main house. 28 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 19 Fund reconclllation (contlnued) Building Works: Includes restoration levy of £88.196 and specific grants to fund building projects at The Oxford Playhouse, Creatlve Platfomis: to help create opportunities for participants of Youth Theatre and Young Company group5 to deliver special projects and events such as mainstage showcases, 8iving them a platform to share their creativity and voice with. wider audiences. Transfers The only material transfer in the year was between Leasehold Buildings ané Fixtures and Fittings restricted funds. This transfer was a correction to rectify a misclassification in the prior year between two fixed asset lines. 20 Analysls of net assets between funds Group Unrestricted general funds Deslgnated funds Restrlcted income funds 2025 Total Fixed assets Cash at bank and In hand Qther current assets Current liabilities 263.94S 493,443 940.992 333,550 1,204,937 2,082,436 293,923 {883,9541 1.255.443 293,923 1883,9541 665,412 757,388 1,274,542 2.697,342 Charity Unrestrlcted general funds Deslgnated funds Restrlrted income funds 2025 Total Fixed assets Investments Cash at bank and in hand Other current assets Current liabilities 263.945 940.992 1.204,937 1,255,443 180.473 1883.9541 493.443 333.SSO 2,082.436 180,473 (883,954) 551,963 757.388 1,274,542 2.583,893 29 The Oxford Playhouse Trust Notes to the accounts Icontlnued) for the year ended 31st March 2025 21 Comparative fund reconciliation Unrestricied funds Balance at 1st .April 2023 Incomlng 'Re$our¢es Resources Expended Trnnsfers Balance at 31st March 2024 General Fund Designated 8oller Designated Artist Development . Oesi8nated Pit Lift Designated Fixed Assets 206,007 89.000 .14,000 4.347.875 (4,048,441} 52,754 189.0001 558,195 114,0001 22,125 50,000 5,790 72,125 326.858 400.909 {79,8411 709,916 4,370,000 14.142,2821 19,544 957,178 Restrlcted Income funds Balance at 1st Aprll 2023 Incomlni Re$ourtes Resources Expended Trnnsfers Balance at 31st M•rth 2024 Oxford Playhouse- Leasehold Improvements OJ¢ford Playhouse.. Fixtures and Flttin8S Tent Creatlve Learnln8 Particlpation Communities Cameron Macklntosh Building Works Gladstone OCC Big Ideas Grant Consultancv 1,000,693 137,814 49.895 35,848 2,803 20.000 61,041 17,000 20.000 23,360 164,3421 153,3461 {49,9481 142,297} 117,397) 115,4591 148,8911 11,837} 8,946 27,043 945,297 111.511 55,000 16,059 9,495 6.203 94,476 55,053 22,508 24,089 1,662 93,196 . 9,500 110,8701 124,6631 120,0001 123,3601 1,368,4S4 206,008 1316,8771 119,5441 1,238.041 30 The Oxford Playhouse Trust Notes to the accounts (continued) for the year ended 31st March 2025 21 Comparative fund reconclliatlon (continued) Buildin8 Works: Includes restoration levy of E88.196 and specific grants to fund building projecrs at The Oxford Playhouse. ' Gladstone:"To help pay for a. new projector. OCC 811 Ideas Grant: To co