COMPANY REGISTRATION NUMBER: SC215744 CHARifY REGISTRATION NUMBER: SC013628 Nairn Drama Limited Company Limited by Guarantee Financial Statements 28 February 2026 RITSON YOUNG 28 High Street Nairn IV12 4AU
Nairn Drama Limited Company Limited by Guarantee Financial Statements Year ended 28 February 2026 Page Directors, annual report (incorporating the directorfs report) Independent examiner's report to the directors Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 15 Notes to the detailed statement of financial activities 15
Nairn Drama Limited Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) Year ended 28 February 2026 The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 28 February 2026. Reference and administrative details Registered charity name Nairn Drama Limited Charity registration number SC013628 Company règistration number SC215744 Registered office The Little Theatre King Street Nairn Scoll8nd IV12 4NP The directors Mary Hemsworth Raymond Atkinson Megan Fraser Ross Henderson-mckillop (Resigned 28 May 20251 Company secrglary Miss M Fraser Independent examiner Rilson Young 28 High Street Nairn IV12 4AU
Nairn Drama Limited Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) (corttlnuodj Year ended 28 February 2026 Structure. governance and management The Charity is a charitable company limited by guarantee governed by ils Memorandum and Articles of Association. The Iruslees, who are also the directors for the purpose of company law, who served during the year were.. Mary Hemsworth Raymoné Atkinson Megan Fraser Ross Henderson-mckillop None of the directors has any beneficial interest in the company. All of the directors are members of the company and guarantee lo contribute £1 in the event of winding up. The overall management and policy decisions of the company are the responsibility of the board of directors who are elected under the terms of the company's Article of Association, annually at the AGM. The directors have assessed the major risks of which the charity is exposed, and are satisfied that systems are in place to miligale exposure to the major nsks. Objectives and activities The charity encourages and develop5 appreciation, performance and production of the éramalic arts in all their forms. This is done with production of club shows. Achievements and performance Nairn Drama Limited experienced a challenging start lo the 2025-26 financial year with the departure of our Theatre and Stage Managers in early May. Ross and MoNen Henderson McKillop brought a real passion for Ihealre, and a particular love for The Little Theatre, helping members of Nairn Drama Club and visiting touring companies lo achieve new heights. Drew Davidson generously stepped up lo lake on the role of Theatre Manager, working hard lo provide Ihoughrful and reliable support for everyone using the Ihealre, whether performeis, volunteers or members of the public. Ray Atkinson also kindly stepped forward lo support Drew, drawing on his extensive sound engineering experience lo help ensure that audien$ and performers received the best possible sound support. Nairn Drama Limited is deeply grateful for the commitment, time and goodwill that both Drew and Ray have given so generously during this period. Financially, the club had a very positive year. Although increased production costs resulted in a small loss of £3, 113.00, income continued lo grow. helping to meet the overall rise in costs and leaving the organisalion in a resilient position.
Nairn Drama Limited Company Limited by Guarantee Directors, Annual Report (Incorporatlng the Dlrector's Report) (Contlnued) Year ended 28 February 2026 Nairn Drama Club was proud lo produce and perform a highly successful pantomime, Sleeping Bpauly, alongside Ihree-nighl runs of B8skerville, Medusa on the Beach and Ghost Stories. Touring 5h(Iws added further variety lo the programme, including The Fantastic Life of Minnie Rubinski, Is That a Whip? multiple performances during the annual Book & Arts Festival, and a number of National Theatre Live screenings. Nairn Drama Limited continues lo look ahead with confidence. supported by ils in-house productions, dedicated volunteers, financial reserves and technical skills. Together. these strengths will help us continue lo provide Nairn wlh high-qualily theatre and memorable performances for years lo come. Financial review The charity operates two main reserves. The general reserve represents unreslricled funds arising from past operating results and includes £30,000, whieh relates lo the donated value of the land. The reslri¢led fund is a capital fund relating lo the building of the Theatre 2nd al 28 February 2026 held funds of £214,85012025 - £226,381). 11 is the policy of the Charity that unreslricled funds which have been designated for a specific use should be maintained al a level eqLJivalenl lo between three and six month's expenéilure. The rectors consider that the reserves al this level will ensure that, in event of a significant drop in funding they will be able lo continue the charity's current activities while consideration is given to ways in which additional funds be raised. This level of reserves have been maintained throughout the year. Small company provisions This report has been prepared in accordance with the provisions applicable lo companies entitled lo the small companies exemption. The directors, annual report was approved on .&q -.?.- 2cuk.. and signed on behalf of the board of trustees by". Mary He Director sfyorth
Nairn Drama Limited Company Limited by Guarante• Independent Examlner's Report to the Directors of Nairn Drama Limited Year ended 28 February 2026 I report lo the directors on my examination of the financial slalements of Nairn Drama Limited Ilhe charily'l for the year ended 28 February 2026. Responslbllltles and basis of report As the directors of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial slalemenls in accordance with the requirements of the Charities and Trustee Inveslmenl Iscollandl Act 2005 I'the 2005 Act'l, the Charities Accounts (Scollandl Regulations 2006 las amended) and the Companies Act 2006 I'lhe 2006 Acl'l- You are satisfied that the accounts of the company are not required by charity or company law lo be audited and have chosen instead lo have an Independent examination. Having salisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 4411llcl of the 2005 Act. In carrying out my examination I have followed the requirements of Regulation 11 of the Charities Accounts {Scollandl Regulations 2006 las amended). Indgpendent èxaminer's statement Since the charity is required by company law lo prepare ils accoLJnts on an accruals basis and is registered as a charity in Scotland your examiner must be a member of a body listed In Regulation 11121 of the Charities Accounts (Scollandl Regulations 2006 las amended). I can confirm that l am qualified lo undertake the examination because l am a registered member of ICAS which is one of the listed bodies. I have completed my examination. I confirm that no mallers have come to my allenlion in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, section 4411llal of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations., or the financial statements do not accord with those records or with the accounting requirements of Regulation 8 of the Charities Accounts (Scotlandl Regulations 2006,. or the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accoLJnls give a 'lrue and fair, view which is not a maller considered as parl of an independent examination., or the financial slalemenls have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
Nairn Drama Limited Company Limited by Guarantee Independent Examinerfs Report to the Directors of Nalrn Drama Limited (wntinuedl Year ended 28 February 2026 I have no concerns and have come across no other mallers in conrneclion with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. •iJ¢ ' Rilson Young 28 High Street Nairn IV12 4AU
Nairn Drama Limited Company Limlted by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 28 February 2026 2026 Reslricled funds Total funds Total funds 2025 Unreslricled funds Not• Income and endowments Donations and legacies Other trading activities Other income 59 28.917 5,081 34.289 34,289 1.985 1,985 Total income 34,289 1,985 36,274 34,057 Expenditure Expenditure on charitable activities Total expendlture 25,871 13,516 39,387 34,174 25,871 13,516 39,387 34,174 Net èxpènditure and net movement in funds 8,418 111,5311 {3,1131 11171 Reconclllatlon of funds Total funds brought forward Total funds carried forward 81,846 226,381 308,227 308,344 90,264 214,850 305,114 308,228 The slalement of financial activities includes all gains and losses recognised in the year. All income and expendllure derive from continuing aclivilies. The notès on pagès B to 13 fomi part of these financial statèments.
Nairn Drama Limited Company Limited by Guarantee Statement of Financial Position 28 February 2026 2026 2025 Note Flxed assets Tangible fixed assets 13 278,231 290,238 Current assgts Cash al bank and in hand 44,317 38,658 Creditors.. amounts falling due within one year Net current assgts 14 17,434 20,669 26,883 17,989 Total assets less current liabilities 305,114 308,227 Net assets 305,114 308,227 Funds of the charity Reslricled funds Unrestricted funds 214,850 90,264 226,381 81,847 308,228 Total charity funds 305,114 For the year ending 28 February 2026 the charity was enlilled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small companie5. Directors, responsibilities.. The members have not required the company lo obtain an audit of its financial slalemen15 for the year in question in accordance with section 476., The direelors acknOedge their responsibillties for complying with the requirements of the Act with respect lo accounting records and the preparation of f1nancial stalemenls. These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies. regime. hese financial slalemenls were approved by the board of Iruslees and aulhorised for issue on .19 _..}-. .A and are signed on behalf of the board by.. Mary Dire The notes on pages 8 to 13 form part of these financlal stat•ment$.
Nairn Drama Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 28 February 2026 General infomiation The charity is a public benefit entity and a private company limited by guarantee, registered in Scotland and a registered charity in Scotland. The address of the registered office is The Little Theatre, King Street, Nairn, Scotland, IV12 4NP. Staterngnt of ¢omplian¢g These financial slalemenls have been prepared In compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP IFRS 102}l and the Companies Act 2006. Accounting policies Basis of preparation The financial slalemenls have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial slalemenls are prepared in slefling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability lo continue. Fund accounting Unreslricled funds are available for use at the discretion of the Iruslees lo further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the directors for particular futLJre projecl or commitment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes.. reslricled income funds or endowment funds.
Nairn Drama Limited Company Limited by Guarantee Notes to the Financial Statements ie¢mtinu•d) Year ended 28 February 2026 Accounting policies (¢ontlnu•dJ Incoming resources All incoming resources are included in the slalemenl of financial activities when enlillement has passed lo the charity,. il is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of Income.. income from donations or gran15 is recognised when there is evidence of enlillement lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured al the fair value of the g(iods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facililies and services are recognised in the accounts when received if the value can be reliably measureLI. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is ¢lassified as unreslricled funds unless Iheie is a conlraclual requirement for il lo be spent on a particular purpose and returned if unspent, in which case it msy be regarded as reslricled. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the slalement of financial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising aclivilies, events, non-charilable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incurreé by a charity in ijndertaking activities that further ils charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating lo the governance of the charily apportioned to charitable aclivilies. other expenditure includes all expenditure that is neither related to Taising funds for the charity nor part of ils expenditure on charitable aclivilies. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs allribulable lo a single activity are allocated directly lo that aclivily. Shared costs are apportioned between the aclivilies they contribute to on a reasonable, justifiable and consislenl basis. Tangible assets Tangible assets are initially recorded al cost, and subsequently slated al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 8re recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Nairn Drama Limited Company Limited by Guarantee Notes to the Financial Statements (Gontlnued) Year ended 28 February 2026 Accounting policies iGontinuedl Tangible assels [ntInU•1 An increase in the carrying amount of 2n asset as a result of a revaluation, is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expendilLJre within the slalemenl of financial aclivilies. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, eX?t lo which il offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Deprgciation Depreciation is calculated so as lo write off the cost or valuation of an asset, less ils residual value, over the useful economic lrfe of that asset as follows". Freehold property Fixtures and fittings 2Vo slraighl line 15¥0 reducing balance Impairment of fixed assets A review for indicators of impaim)enl is carried out al each reporting date, with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting dale. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil lo which the asset belongs. The cash-generating unil is the smallest identifiable group of assets that includes the a5sel and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment lesling of goodwill, the goodwill acquired in a business combination is, from the acquisition dale, allocated lo each of the cash-generaling units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party lo the contractual provisions of the instrument. Basic financial inslrumenls are initially recognised at the amount receivable or payable including any related transaction costs. Current assets anij current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the inveslmenl is subsequently measLJred al fair value wilh changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairmenl 10
Nairn Drama Limited Company Limited by Guarantee Notes to the Financial Ststements (¢ontinu8dJ Year ended 28 February 2026 Accounting policies (continuedl Financial instruments (¢oniinoMdJ Other financial inslrumenls, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed al a rale of interest that Is not 8 market rate, in which case the asset is measured al the present value of the future payments discounted at a market rale of interest for a similar debt inslrumenl. Other financial instruments are subsequently measured al fair value, with any changes recognised in the slalemenl of financial aclivilies, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment al the end of each reporting dale. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heacSing in the slalemenl of financial aclivrties in which the initial gain was recognised. For all equity instruments regardless of significance, and other firiancial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characlerislics. Any reversals of impairment are recognised immediately, lo the exlenl that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount woul have been had the impairment not previously been recognised. Limited by guarantee Nairn Drama Limited is a company limited by guarantee and accordingly does not have a share ¢apilal. Donations and legacles Unreslricled Total Funds Unreslricled Total Funds Funds 2026 Funds 2025 Donatlons Donations 59 59 Other Irading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2026 Funds 2025 Subscriptions Shows Raffles Aévertising Hires 720 29,955 1.539 1,275 800 720 29,955 1,539 1,275 800 442 24,125 1,000 2,179 1,171 442 24,125 1,000 2,179 1,171 34,289 34,289 28,917 28,917 11
Nairn Drama Limited Company Limited by Guarantee Notes to the Financial Statements (G9ntinu) Year ended 28 February 2026 Other incorne Reslricled Total Funds Funds 2026 Reslricled Total FLtnds Funds 2025 Capital grants released 1.985 1,985 5,081 5,081 Expenditure on charitable actlvities by fund type Unreslricled Funds Restricled Total Funds Funds 2026 Charitable activities Support costs 24,788 1,083 13,516 38,303 1,084 25,871 13,516 39,387 Unreslricle Funds Restricted Total Funds Funds 2025 Charitable activities Support costs 18,901 1,151 14,121 33,023 1,151 20,052 14,121 34,174 Expenditure on charitable activities by activlty type Activities undertaken directly Support Total funds costs 2026 Total fund 2025 Charitable activities Governance costs 38,303 38,303 1,084 33,023 1,151 1,084 38,303 1,084 39,387 34,174 10. Net expendlture Nel expendilure is slated after Ghargingllcredilingl.. 2026 2025 Depreciation of tangible fixed as5els 13,515 14,122 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. The average head count of employees during the year was 412025.. 4). No employee received employee benefits of more than £60,000 during the year {2025.. Nill. 12
Nairn Drama Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedl Year ended 28 February 2026 12. Trustge rernungr*ion and expènsos For the year lo 28 February 2026 there has been no remuneration paid lo any Iruslee of the company. 13. Tangible fixed assets Freehold Fixtures and property fillings Total Cost Al 1 March 2025 Additions 428,925 158,703 1,509 587,628 1,509 At 28 February 2026 Depreciation At 1 March 2025 Charge for the year At 28 February 2026 Carrying amount At 28 February 2026 Al 28 February 2025 428,925 160,212 589,137 170,088 8,579 127,302 4,937 297,390 13,516 178,667 132,239 310,906 250,258 27,973 278,231 258,837 31,401 290,238 14. Credltors.. amounts falling due within one year 2026 2025 Bank loans and overdrafts Accruals and deferred income Social security and other taxes 4,766 12,570 98 5,527 14,480 662 17,434 20,669 15. Deferred income 2026 2025 Al 1 March 2025 Amount released lo income Amount deferred in year At 28 February 2026 13,230 11,985) 15,081 } 18,311 11,245 13,230 13
Nairn Drama Limited Company Limited by Guarantee Management Information Year ended 28 February 2026 The following pages do not form part of the financial statements. 14
Nairn Drama Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 28 February 2026 2026 2025 Income and endowments Donations and leoacies Donations 59 Other trading activities Subscriptions Shows Raffles Advertising Hires 720 29,955 1,539 1,275 800 24,125 1.000 2,179 1,171 34,289 28,917 Other income Capi181 grants released 1,985 5,081 Total income 36,274 34,057 Expenditure Expendlture on charltable activitios Production costs Printing programmes Rates and water Lighl and heal Repairs and maintenance Insurance Storage rent Honoraria Motor and travel costs Accountancy fees Telephone Subscriptions and memberships Cleaning Depreciation Bank and stripe charges Printing, post and slalionery Sundry expenses Hire costs Licences 11,516 703 8,489 400 1,676 1,302 2,459 1,400 250 84 1,151 337 650 350 14,122 466 104 253 2,798 1,475 2,636 1,400 1,084 390 1,166 114 13,515 34 1,086 179 369 922 39,387 34,174 Net gxpenditurè 13,1131 11171