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 acknO￿edge 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