Charity registration number 247005 (England and Wales)
Company registration number 00646151
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Lord Crathorne
Mrs K Field
Mr J Brown
The Hon. C Stanley
Mr C Grant
Mrs S Brown
Mrs L M Downey
Mr A White
(Appointed 25 July 2025)
Honorary Secretary
Mrs P Kassell
Honorary Treasurer
Mrs S Brown
Patrons
His Majesty King Charles III and Her Majesty Queen Camilla
President
Dame Judi Dench
Chairman
Mr C Grant
Charity number (England and Wales)
247005
Company number
00646151
Principal address
Victoria Road
Richmond
North Yorkshire
DL10 4DW
Registered office
Victoria Road
Richmond
North Yorkshire
DL10 4DW
Independent examiner
Deborah Fletcher-McVay FCA
Xeinadin
Trinity House
Thurston Road
Northallerton
North Yorkshire
DL6 2NA
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Investment advisors
Brewin Dolphin Limited
12 Smithfield Street
London
EC1A 9BD
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
CONTENTS
Page
Trustees' report
1 - 5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 20
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2026.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives

The charity’s objects are the management of the Georgian Theatre, Richmond, North Yorkshire, to restore and preserve the building, and to advance education by encouraging and promoting the study, knowledge, understanding and appreciation of Dramatic Art, in particular at the building known as "The Georgian Theatre" in the town of Richmond, North Yorkshire.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Georgian Theatre (Richmond) Trust Limited exists to preserve The Georgian Theatre Royal for the benefit of the nation and as a place of historical interest. The Georgian Theatre Royal is the only surviving example of an eighteenth-century country playhouse and as such is a living theatre museum.

Vision and Activities

The vision of the charity is to provide a range of opportunities for people across all age groups to experience, learn about and enjoy The Georgian Theatre Royal and to understand its historic context, its unique significance, and its contribution to modern day theatre. The significant activities undertaken to achieve this vision include the delivery of Youth Theatre sessions to 100 young people per week, providing the members training in all areas of theatre and stage craft. There are also lots of performance opportunities for young people, which include working with local schools, performing in the in-house pantomime, and partnership work with local organisations.

The Theatre further provides education through its purpose as a museum where it preserves and exhibits scenery, playbills, and information from eighteenth and nineteenth century theatre to educate and entertain the public. The Georgian Theatre Royal has Arts Council Museum accreditation, which is shortly due for renewal. For most of the year the Theatre’s dedicated team of volunteer guides offers up to 36 tours per week, allowing access to numerous visitors and groups, including tourists, students, societies, and members of the local community.

The charity’s mission is to build on past success in conserving and developing The Georgian Theatre Royal as a distinctive theatre with a far reaching and inclusive creative vision. This is achieved through imaginative and innovative approaches to learning, tourism and our Georgian heritage while continuing to provide a varied artistic programme.

The Georgian Theatre Royal produces an annual programme of both professional and community work that is both diverse and of high quality. The company provides an entertaining mix of acts and events across all art forms with accompanying outreach, workshops, and education activities where possible. The charity offers an opportunity to the community to participate in performances through the Youth Theatre, local schools, work experience programme and through local festivals in a historic theatre supported by professionals in the theatre business.

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -

Achievements and performance

The principal aim of the 2025/26 financial year was to sustain and further develop the charity’s growth in earned income, thereby reducing reliance on support funding. Significant progress has been made towards this objective since 2016, with the gap between income and expenditure narrowing considerably.

Throughout the year, positive feedback was consistently received across all public areas of the theatre. The Georgian Theatre Experience tours continue to attract excellent reviews and industry recognition. For the third consecutive year, the Experience Tours were awarded the TripAdvisor Travellers’ Choice Award, placing them within the top 10% of attractions worldwide. Alongside strong audience responses to the live performance programme. Audiences enjoyed a diverse programme of performances from a wide range of companies, including Elysium Theatre Collective, Mikron Theatre Company, Lucy Adlington, and Dyad Theatre Company, among many others.

The theatre also continued its long-standing relationships with local amateur dramatic societies. Richmond Amateur Dramatic Society presented Antigone, Monstrous Regiment, and Bleak Expectations, while Richmond Operatic Society staged productions of Beauty and the Beast and Sweeney Todd. Both societies have already confirmed bookings for their 2026 productions. The Castle Players were retained as annual performers on the Georgian stage, presenting The Inn at the Top in 2025 and planning a further production for 2026. In addition, West Yorkshire Savoyards delivered a successful production of Iolanthe and have also confirmed their return for 2026

The Theatre once again hosted an excellent programme of productions from Richmond School and Sixth Form, including examination performances and presentations from the school’s drama club. In addition, a new partnership is being developed with Richmond secondary school SFX, which will include theatre tours, workshops, and performances staged at the Theatre.

This year’s in-house pantomime, Cinderella, was exceptionally well received by audiences and achieved record-breaking box office success once again. The production featured a combination of returning performers and newcomers to the Georgian stage, alongside members of the Young Company, who continued to demonstrate exceptional talent and commitment as a team of young local performers.

The Youth Theatre has remained highly active throughout the year, with members participating in regular sessions and a range of additional guest workshops. Their dedication resulted in the successful staging of six productions. The senior group explored some thought-provoking works, including Frankenstein and Dr Jekyll and Mr Hyde, while the junior group performed The Pied Piper for Henderskelfe. The Musical Theatre groups, which continue to be the largest section of the Youth Theatre, staged the highly successful production Back to Oz. The show ran for two nights and sold exceptionally well, reflecting the continued growth and popularity of the programme. Due to increasing demand, plans are underway to establish an additional Musical Theatre class in September. The Theatre is also exploring opportunities for Youth Theatre members to participate in drama festivals in the future, including the Edinburgh Fringe Festival.

The Georgian Theatre Royal continues to play a vital role in the artistic, cultural, and social life of the communities it serves. The Theatre remains deeply appreciative of the ongoing support received from its Friends, as well as the strong partnerships developed with local attractions and community organisations.

The Theatre’s many achievements continue to be delivered by a dedicated and passionate team of staff and volunteers. The organisation currently employs eight members of staff and is supported by approximately 90 volunteers, all of whom work tirelessly to deliver the Theatre’s educational, cultural, and heritage activities. Their efforts are further strengthened by the guidance and commitment of an engaged and resourceful Board of Trustees. The continued success of The Georgian Theatre Royal is a direct result of the dedication, enthusiasm, and collective effort of everyone involved, whose shared commitment ensures that the charity’s objectives are consistently achieved. In recognition of their invaluable contribution, volunteers will shortly be presented with Long Service Awards.

Financial review

The Statement of Financial Activ i t i es shows net expenditure for the period of £22,391 (20 25: net expenditure of £95,804), including total investment gains of £21,786 (2025: net gain of £4,177). The unrestricted fund recorded net expenditure (before transfers and investment gains) of £56,068 (20 25: £114,611). Total funds at 3 1 March 2026 were £976,075 compared to £998,466 in 20 25, including restricted funds of £94,760 (20 25: £95,369) and unrestricted funds of £881,315 (20 25: £903,097).

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -

The principal funding sources of the charity in the year were: Donations and voluntary income of £62,898, box office income of £321,787 and project grant income of £57,500. The grant income was primarily provided by Sylvia Crathorne Memorial Trust and Liz and Terry Bramall Foundation to finance the employment costs of the Chief Executive. The support of our grant providers and private donors is essential to supplement the Box Office income and enable the charity to provide a diverse and high quality programme.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use or invested in tangible fixed assets should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. The balance held as unrestricted funds at 31 March 2026 was £881,315 of which £182,920 are regarded as free reserves, against unrestricted expenditure (excluding depreciation) incurred of £469,593 for the year. Therefore free reserves represented approximately 4 months unrestricted expenditure and the reserve policy was maintained t hroughout the year.

Investment Policy

The Board of Trustees have delegated decision-making on investment matters to the Chief Executive and the Hon. Treasurer who meet with the Trust's investment managers at least annually to discuss the performance. The Trust's Investment Policy is reviewed by the Finance Committee and approved by the Board of Trustees annually.

The cashflow forecast is reviewed regularly to ensure there is sufficient liquidity for operational needs. A significant part of the Trust's assets is invested through its investment managers for the long term on a total return approach, in a diversified range of assets classes. The aim is to generate a capital return over the long term and after expenses of at least the RPI in order to maintain the real value of the Trust's assets. The investment managers also aim to at least match the performance of the major benchmark indices and their own composite benchmark.

Risk factors

The charity’s fundraising campaign, A Living Theatre: Give for Then, Now and Tomorrow, continued throughout the year. While the majority of supporters have maintained their generous monthly contributions, donor numbers have shown a slight decline, prompting plans for a relaunch of the campaign in 2026.

Cash flow remains healthy and is expected to remain stable for at least the next two years. The Future Funding Group, a sub-committee of the Board, continues to play an active role in identifying and pursuing fundraising opportunities to address the projected funding deficit beyond 2026.

The importance of legacy giving was also highlighted during the year, and a dedicated legacies campaign is still underway through the Theatre’s brochures and promotional leaflets. Copies are available at the Theatre and have also been distributed to local solicitors in order to raise awareness and encourage long-term support for the charity.

Plans for future periods

The Trustees have continued to develop their long-term vision and strategic ambitions for the Theatre over the next decade. As part of this forward planning, consideration is being given to energy cost-saving initiatives, alongside a structured programme of repairs and maintenance to safeguard the building’s future sustainability.

The Theatre is shortly due to undertake a programme of capital works to address a significant roof leak that has been causing water ingress above the gallery door. Funding for these works has already been secured. In addition, a number of further maintenance projects, including building repairs and redecoration, have been identified, with finance already in place to support these improvements.

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -

The Theatre is also progressing plans to secure ownership of the bar annex area, with the aim of completing this by Summer 2026.

A new quinquennial report will be required for the theatre in 2027.

There is a new business plan which is currently awaiting board adoption (2027-2030). The theatre aims to progress this vision by focussing on the following key areas:

Profile: Raise the profile locally, regionally, and nationally through the Artistic Programme, Partnerships and a solid Marketing Strategy.

People: Ensure we have enough people with the right skills on the Staff Team and amongst the Volunteers and Trustees.

Building: Maintain the historic building, improve Environmental Sustainability. Further explore the potential for purchase or lease of the bar annex area.

Financial Sustainability: Increase existing earned income streams, identify new ones, and focus on increasing regular giving, donations and legacies.

Structure, governance and management

The charity is a company limited by guarantee, and is governed by a M emorandum and A rticles of A ssociation.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Lord Crathorne
Mrs K Field
Mr J Brown
The Hon. C Stanley
Mr C Grant
Mrs S Brown
Mrs L M Downey
Mrs S Corbett
(Appointed 25 July 2025 and resigned 3 July 2026)
Mr A White
(Appointed 25 July 2025)
Mr M Forde
(Appointed 25 July 2025 and resigned 14 May 2026)
Recruitment and appointment of trustees

The board of trustees has the power to appoint additional trustees as it considers appropriate.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trust members appoint a strategic board which currently consists of nine Trustees from a variety of backgrounds relevant to the governance of the charity. The board meets quarterly and has overall responsibility for the operation of the charity. The board is ultimately responsible for the strategic direction of the Georgian Theatre Royal and works through an agreed business plan, which has been drawn up in the first instance by the Theatre’s Chief Executive.

The Chief Executive leads a small staff team and has overall responsibility for their performance and management, who is held to account by the board through the provision of detailed reports at every meeting and the board works closely with her to ensure that the charity’s objectives are met, and resources deployed as effectively and efficiently as possible.

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -

Members of the board receive induction from the Chair and Chief Executive, and the board receives occasional training in relation to its responsibilities and organisation. The Trustees are members of various sub-committees to provide a more detailed focus on specific areas, such as Finance and Future Funding. When required, a sub‑committee will be introduced to oversee a specific project, to provide greater focus and to ensure controls are in place around costs and income.

Pay and remuneration of the Chief Executive and staff are reviewed annually taking account of relevant comparators, the business plan and what is usually a challenging financial position.

In recent years the Chair and board have undertaken a review of the various kinds of skills and experience that are deemed relevant to the operation of the Theatre, and we believe we have been very successful in putting together members of a board who work well as a team in conjunction with staff and volunteers alike.

The trustees are indebted to the many volunteers for their commitment and support.

Members of the board receive induction from the Chair and Chief Executive and the board receives occasional training in relation to its responsibilities and organisation. The Trustees are members of various sub-committees to provide a more detailed focus on specific areas, such as Finance and Future Funding. When required, a sub‑committee will be introduced to oversee a specific project, to provide greater focus and to ensure controls are in place around costs and income.

Pay and remuneration of the Chief Executive and staff are reviewed annually taking account of relevant comparators, the business plan and what is usually a challenging financial position.

In recent years the Chair and board have undertaken a review of the various kinds of skills and experience that are deemed relevant to the operation of the Theatre, and we believe we have been very successful in putting together members of a board who work well as a team in conjunction with staff and volunteers alike.

The trustees are indebted to the many volunteers for their commitment and support.

As ever we remain especially grateful for the commitment, hard work and strategic leadership of our Chief Executive, Jo Mawhinney.

The trustees' r eport was approved by the Board of Trustees.

Mr C Grant
Trustee
23 July 2026
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
- 6 -

I report to the trustees on my examination of the financial statements of The Georgian Theatre (Richmond) Trust Limited (the charity) for the year ended 31 March 2026.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Deborah Fletcher-McVay FCA
Xeinadin
Trinity House
Thurston Road
Northallerton
North Yorkshire
DL6 2NA
27 July 2026
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2026
2026
2026
2025
2025
2025
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
58,898
4,000
62,898
58,514
-
58,514
Charitable activities
3
347,702
57,500
405,202
283,159
128,307
411,466
Other trading activities
4
65,883
16,770
82,653
54,476
15,081
69,557
Investments
5
4,823
-
4,823
4,375
-
4,375
Total income
477,306
78,270
555,576
400,524
143,388
543,912
Expenditure on:
Raising funds
6
18,303
-
18,303
17,411
-
17,411
Charitable activities
7
515,071
66,379
581,450
497,724
128,758
626,482
Total expenditure
533,374
66,379
599,753
515,135
128,758
643,893
Net gains/(losses) on investments
11
21,786
-
21,786
4,177
-
4,177
Net income/(expenditure)
(34,282)
11,891
(22,391)
(110,434)
14,630
(95,804)
Transfers between funds
12,500
(12,500)
-
-
-
-
Net movement in funds
(21,782)
(609)
(22,391)
(110,434)
14,630
(95,804)
Reconciliation of funds:
Fund balances at 1 April 2025
903,097
95,369
998,466
1,013,531
80,739
1,094,270
Fund balances at 31 March 2026
881,315
94,760
976,075
903,097
95,369
998,466

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 8 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
13
698,395
760,582
Investments
14
240,343
215,592
938,738
976,174
Current assets
Stocks
15
2,822
2,970
Debtors
16
7,226
5,739
Cash at bank and in hand
143,001
117,470
153,049
126,179
Creditors: amounts falling due within one year
17
(115,712)
(103,887)
Net current assets
37,337
22,292
Total assets less current liabilities
976,075
998,466
The funds of the charity
Restricted income funds
18
94,760
95,369
Unrestricted funds
881,315
903,097
976,075
998,466

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2026.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 23 July 2026
Mr C Grant
Trustee
Company registration number 00646151 (England and Wales)
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2026
- 9 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
25,267
3,678
Investing activities
Purchase of tangible fixed assets
(1,594)
(1,391)
Purchase of investments
(24,932)
(49,868)
Proceeds from disposal of investments
21,967
47,205
Investment income received
4,823
4,375
Net cash generated from investing activities
264
321
Net cash generated from financing activities
-
-
Net increase in cash and cash equivalents
25,531
3,999
Cash and cash equivalents at beginning of year
117,470
113,471
Cash and cash equivalents at end of year
143,001
117,470
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 10 -
1
Accounting policies
Charity information

The Georgian Theatre (Richmond) Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Victoria Road, Richmond, North Yorkshire, DL10 4DW.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Management have developed the 2025 - 2028 Business Plan to guide the charity through the next three years and this is monitored closely by the Board and CEO. On the basis of their assessment of the charity's current financial position, the Business Plan, committed grants/donations and cash flow forecasts through to 31 March 2027 and beyond, the Trustees have a reasonable expectation that the charity will be able to continue in operational existence for the foreseeable future. As a result the financial statements have been prepared on a going concern basis.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are received for a particular purpose. The purposes and uses of the restricted funds are set out in the notes to the accounts.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grant income is recognised when receivable except when the donor imposes conditions which have yet to be fulfilled before the charity becomes entitled to use such income.

Deferred income also relates to Box Office and wedding income deferred to the period in which the event it relates to occurs.

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 11 -

Income from bar sales, guided tours and other trading is recognised when receivable by the charity.

Investment income is recognised when receivable by the charity.

1.5
Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Costs of raising funds comprise the costs associated with attracting donations and the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property and improvements
50 years straight line basis
Leasehold Property & Improvements
Straight line basis over the unexpired lease term
Lighting Equipment
20% reducing balance basis
Fixtures, Fittings & Equipment
3-20 years straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
2
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2026
2026
2026
2025
2025
2025
£
£
£
£
£
£
Donations and gifts
45,898
4,000
49,898
43,014
-
43,014
Legacies
-
-
-
15,000
-
15,000
Grants receivable for core activities
13,000
-
13,000
500
-
500
58,898
4,000
62,898
58,514
-
58,514
Grants receivable for core activities
Richmond Town Council
500
-
500
500
-
500
Sylvia Crathorne Memorial Trust
12,500
-
12,500
-
-
-
13,000
-
13,000
500
-
500
3
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2026
2026
2026
2025
2025
2025
£
£
£
£
£
£
Charitable activities
Box office income
321,787
-
321,787
260,239
-
260,239
Youth theatre income
25,915
-
25,915
22,920
-
22,920
Project grants
-
57,500
57,500
-
128,307
128,307
347,702
57,500
405,202
283,159
128,307
411,466
Performance related grants analysis
Charitable activities
Charitable activities
2026
2025
£
£
The Liz and Terry Bramall Foundation and Sylvia Crathorne Memorial Trust Fund
50,000
128,307
The Normanby Charitable Trust
7,500
-
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 13 -
4
Income from other trading activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2026
2026
2026
2025
2025
2025
£
£
£
£
£
£
Bar, ice cream and catering income
56,555
-
56,555
45,102
-
45,102
Ancillary trading income
9,328
-
9,328
9,374
-
9,374
Restoration levy
-
16,770
16,770
-
15,081
15,081
Other trading activities
65,883
16,770
82,653
54,476
15,081
69,557
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2026
2025
£
£
Income from listed investments
4,600
4,143
Interest receivable
223
232
4,823
4,375
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2026
2025
£
£
Trading costs
Bar, ice cream and retail costs
16,697
15,918
Investment management
1,606
1,493
Total costs
18,303
17,411
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 14 -
7
Expenditure on charitable activities
Charitable Expenditure
Charitable Expenditure
2026
2025
£
£
Direct costs
Staff costs
164,382
155,720
Depreciation and impairment
63,781
66,022
Property running costs
12,865
31,425
Office supplies and running costs
4,054
4,115
Marketing and advertising costs
7,719
8,253
Repairs and maintenance
12,732
66,828
Legal and professional fees
3,985
9,365
Staff recruitment and training
470
450
Sundry expenses
2,213
2,787
Irrecoverable VAT
18,671
29,305
Production share to visiting companies
106,162
85,709
In house production expenses
69,162
61,609
Youth theatre expenses
4,054
4,865
Brochure publication costs
8,129
7,264
478,379
533,717
Share of support and governance costs (see note 8)
Support
103,071
92,765
581,450
626,482
Analysis by fund
Unrestricted funds
515,071
497,724
Restricted funds
66,379
128,758
581,450
626,482

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 15 -
8
Support costs allocated to activities
2026
2025
£
£
Staff costs
56,243
50,115
Property running costs
21,303
14,525
Office supplies and running costs
2,478
3,027
Repairs and maintenance
1,484
2,255
Computer consumables
3,036
2,956
Legal and professional
14,209
16,199
Bank charges
4,318
3,688
103,071
92,765
Analysed between:
Charitable Expenditure
103,071
92,765

Support Costs include Governance costs of £14,209, which includes fees of £1,000 payable for the independent examination of the accounts (2025: £5,150 payable for the audit of the accounts), and £13,209 (2025: £11,049) for other services.

9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
10
Employees

The average monthly number of employees during the year was:

2026
2025
Number
Number
Administrative
6
6
Finance
1
1
Management
1
1
Total
8
8
Employment costs
2026
2025
£
£
Wages and salaries
206,810
190,181
Social security costs
10,387
11,540
Other pension costs
3,428
4,114
220,625
205,835
There were no employees whose annual remuneration was more than £60,000.
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
10
Employees
(Continued)
- 16 -
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2026
2025
£
£
Aggregate compensation
48,545
43,466
11
Gains and losses on investments
Unrestricted
Unrestricted
funds
funds
2026
2025
Gains/(losses) arising on:
£
£
Revaluation of investments
19,208
3,738
Sale of investments
2,578
439
21,786
4,177
12
Taxation

The company, by being a registered charity, is not liable to UK Corporation Tax or Capital Gains Tax so long as the income it receives is applied for charitable purposes. There is therefore no tax charge in the financial statements.

13
Tangible fixed assets
Freehold property and improvements
Leasehold Property & Improvements
Lighting Equipment
Fixtures, Fittings & Equipment
Total
£
£
£
£
£
Cost
At 1 April 2025
561,925
2,026,200
189,650
161,601
2,939,376
Additions
-
-
-
1,594
1,594
At 31 March 2026
561,925
2,026,200
189,650
163,195
2,940,970
Depreciation and impairment
At 1 April 2025
246,959
1,652,081
152,061
127,693
2,178,794
Depreciation charged in the year
8,185
44,300
7,517
3,779
63,781
At 31 March 2026
255,144
1,696,381
159,578
131,472
2,242,575
Carrying amount
At 31 March 2026
306,781
329,819
30,072
31,723
698,395
At 31 March 2025
314,966
374,119
37,589
33,908
760,582

THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 17 -
14
Fixed asset investments
Listed investments
Cash in portfolio
Total
£
£
£
Cost or valuation
At 1 April 2025
212,127
3,465
215,592
Additions
24,932
3,935
28,867
Valuation changes
19,208
-
19,208
Disposals
(23,324)
-
(23,324)
At 31 March 2026
232,943
7,400
240,343
Carrying amount
At 31 March 2026
232,943
7,400
240,343
At 31 March 2025
212,127
3,465
215,592

All listed investments are carried at their fair value. Investments in equities, fixed interest and other securities are all traded in quoted public markets for which market prices are readily available.

15
Stocks
2026
2025
£
£
Finished goods and goods for resale
2,822
2,970
16
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
340
-
Other debtors
175
779
Prepayments and accrued income
6,711
4,960
7,226
5,739
17
Creditors: amounts falling due within one year
2026
2025
£
£
Other taxation and social security
7,196
4,815
Trade creditors
674
2,321
Other creditors
6,511
7,558
Accruals and deferred income
101,331
89,193
115,712
103,887
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
17
Creditors: amounts falling due within one year
(Continued)
- 18 -

Income received and deferred in the current year amounted to £85,007 (2025 - £71,713) and the amount released from the previous period amounted to £70,713 (2025- £47,975).

18
Restricted funds

The restricted funds of the charity compri se the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be use d.

At 1 April 2025
Incoming resources
Resources expended
Transfers
At 31 March 2026
£
£
£
£
£
Paul Iles Learning Centre Fund
16,351
-
-
-
16,351
The Liz and Terry Bramall Foundation and Sylvia Crathorne Memorial Trust Fund
73,102
50,000
(48,545)
(12,500)
62,057
Restoration Fund
5,916
16,770
(10,386)
-
12,300
Trustees of Normanby Charitable Trust
-
7,500
(3,448)
-
4,052
Other
-
4,000
(4,000)
-
-
95,369
78,270
(66,379)
(12,500)
94,760
Previous year:
At 1 April 2024
Incoming resources
Resources expended
Transfers
At 31 March 2025
£
£
£
£
£
Paul Iles Learning Centre Fund
16,351
-
-
-
16,351
The Liz and Terry Bramall Foundation and Sylvia Crathorne Memorial Trust Fund
54,069
62,500
(43,467)
-
73,102
Restoration Fund
1,219
15,081
(10,384)
-
5,916
NYCC UKSPF Feasibility Study
9,100
-
(9,100)
-
-
The Sylvia Crathorne Memorial Trust Fund for toilet restoration
-
65,807
(65,807)
-
-
80,739
143,388
(128,758)
-
95,369
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
18
Restricted funds
(Continued)
- 19 -

The Paul Iles Learning Centre Fund was established in 2012 by a legacy received from the estate of Paul Iles, a former associate director of the charity, to fund the development of a new Learning Centre at the Georgian Theatre.

The Liz and Terry Bramall Foundation and Sylvia Crathorne Memorial Trust Fund was established by grants from the two charities towards the recruitment and ongoing employment costs of the Chief Executive of the Georgian Theatre Royal.

A grant was received from the Trustees of the Normanby Charitable Trust for repairs to the heating system, work was ongoing at the year end.

Monies raised from the restoration levy charged on Box office ticket sales are allocated to the Restoration Fund which is used for restoring and maintaining the theatre.

19
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2026
2026
2026
£
£
£
At 31 March 2026:
Tangible assets
698,395
-
698,395
Investments
240,343
-
240,343
Current assets/(liabilities)
(57,423)
94,760
37,337
881,315
94,760
976,075
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
At 31 March 2025:
Tangible assets
760,582
-
760,582
Investments
215,592
-
215,592
Current assets/(liabilities)
(73,077)
95,369
22,292
903,097
95,369
998,466
THE GEORGIAN THEATRE (RICHMOND) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 20 -
20
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2026
2025
£
£
Within one year
101
101
Between two and five years
402
402
In over five years
2,748
2,849
3,251
3,352
21
Related party transactions

There were no disclosable related party transactions during the year (2025 - none).

22
Cash generated from operations
2026
2025
£
£
Deficit for the year
(22,391)
(95,804)
Adjustments for:
Investment income recognised in statement of financial activities
(4,823)
(4,375)
Gain on disposal of investments
(2,578)
(439)
Fair value gains and losses on investments
(19,208)
(3,738)
Depreciation and impairment of tangible fixed assets
63,781
66,022
Movements in working capital:
Decrease/(increase) in stocks
148
(163)
(Increase)/decrease in debtors
(1,487)
13,590
Increase in creditors
11,825
28,585
Cash generated from operations
25,267
3,678
2026-03-31 2025-04-01 false false false CCH Software iXBRL Review & Tag 2025.2 00646151 2025-04-01 2026-03-31 00646151 bus:Director1 2025-04-01 2026-03-31 00646151 bus:Director2 2025-04-01 2026-03-31 00646151 bus:Director3 2025-04-01 2026-03-31 00646151 bus:Director4 2025-04-01 2026-03-31 00646151 bus:Director5 2025-04-01 2026-03-31 00646151 bus:Director6 2025-04-01 2026-03-31 00646151 bus:Director7 2025-04-01 2026-03-31 00646151 bus:Director9 2025-04-01 2026-03-31 00646151 bus:CompanySecretary1 2025-04-01 2026-03-31 00646151 bus:Director8 2025-04-01 2026-03-31 00646151 bus:Director10 2025-04-01 2026-03-31 00646151 2026-03-31 00646151 2025-03-31 00646151 2024-04-01 2025-03-31 00646151 bus:FRS102 2025-04-01 2026-03-31 00646151 char:IndependentExaminationCharity 2025-04-01 2026-03-31 00646151 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP