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← Futures Theatre Company

2025-07-31-accounts

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

Futures Theatre Company

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Registered Charity No. 1052890 Company No.03149687 (England and Wales)

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Giulia Ascoli – Chair
Judith Barber – Treasurer
Clare Dobson – Deputy Chair
Angie Conway
Tanya-Loretta Dee
Natalie Crisp
Natasha Wills
Secretary Caroline Bryant
Senior Management Team Caroline Bryant – Artistic Director
Flair May – Engagement Director
Rebecca Rowson – Executive Producer
Charity number 1052890
Company number 03149687
Registered office St. John's Waterloo
Waterloo Road
LONDON
SE1 8TY
Independent examiner Jonathan Chartres FCA
31 Moor Park Road,
Hereford
England, HR4 0RR
Bankers HSBC Bank Plc
5 Wimbledon Hill Road
Wimbledon, London
SW19 7NF
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Mailing
Kent

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

CONTENTS

Page
Trustees' report 1 - 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 - 25

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY (A company limited by guarantee) DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

The Trustees are pleased to present their annual directors’ report together with the Charity’s financial statements for the year ended 31st July 2025.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statements of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (FRS 102) (effective 1 January 2019) – (Charity SORP (FRS 102) Revised).

OUR PURPOSE AND ACTIVITIES

Futures Theatre offers all marginalised women a space to thrive, addressing gender inequality through an intersectional lens. We produce uncompromising theatre and podcast series, telling authentic stories that need to be heard. We create opportunities for artists and participants to drive debate, promote awareness and amplify their voices through creative engagement programmes. We exist so that underrepresented women can live their fullest lives. Our vision is for a world all women can flourish and, together, we fight for equity.

Our main activities:

ACHIEVEMENTS AND PERFORMANCE

While last year's focus on cementing the organisation’s financial stability and sustainability continues to be a priority, Futures Theatre has entered a new phase, focusing on gradually building up to achieve the same output the organisation had pre-pandemic and establishing strong internal frameworks and processes to support the expansion of the Thrive programme, soon to include legacy participants, and a new co-productions strand, starting with Loop, written by TanyaLoretta Dee.

Argos Archives:

Argos Archives is a play told through the eyes of a young autistic woman who, deceived and exhausted by life’s rules, finds comfort and structure in the pages of the Argos catalogue. Stuck in an everlasting cycle of attempting to understand the rules of society and what is expected of her, she navigates the complexities of human relationships.

The debut of Argos Archives marked Futures’ first full production since the Offside tour in 2022, and our first originally produced work since 2018. It represents the culmination of six years of development, brought to life with a three-venue tour: with a three-week opening run at Omnibus Theatre in London, followed by performances at Northern Stage in Newcastle and Eastern Angles in Ipswich.

The production was warmly received, earning multiple four-star reviews. Theatre and Tonic described it as “a spectacular short play,” while ReviewsGate called it “stimulating, liberating.” Audience feedback echoed this praise, highlighting the show’s quality, its authentic representation of neurodiversity, and its commitment to accessibility.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

(A company limited by guarantee) DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

In developing this production, Futures expanded its approach to accessibility by introducing new initiatives, including a dedicated break-out space and extended content warnings. As a result, 91% of audience members reported that the production was accessible, and 96% said they enjoyed the show. Additionally, a third of attendees identified as neurodivergent.

Key Audience Quotes:

We worked a fully neurodivergent team, all of whom reported that their access needs were at least partially met. Every team member also indicated that their experience of working on the project was positive.

New Writing Under Commission

We continue to work with writer Abi Zakarian (Abi was initially commissioned to write an episode of our podcast series, Fully Amplified). In 2022-23, we offered Abi a seed commission, which has grown into a new script in development: My Name is Mud. A woman stands on the edge of the foreshore, where mudlarks dig to reveal histories and put together stories of those past peoples. Here, on the edge of a tidal river, we walk with this woman to unearth her fragmented tale. Using mudlarking as the framing device, the play will examine themes of identity and belonging from the perspective of women on the margins of society. It will feature original songs and will be developed closely with participant groups

A beginning of an end. An empty city. A cold shoreline. A stilted phone conversation. A missed meeting. A stupid mistake A beginning of an end…

Down on the shore of the Thames early one morning, a woman is waiting at the very edge of a life she no longer recognises as her own; she has no name - at least, the one she had is buried in the mud, and sinking fast.

A heart-wrenching tale of rediscovery together through Indie-folk music and dynamic dialogue in a non-linear fashion, based on a collation of the stories of women who’ve faced the criminal justice system, and subsequently have been forgotten by society.

We delivered the first Thrive session in association with My Name is Mud , which is discussed further in the Thrive section below, and we are due to run a second session in winter 2025. This engagement work has been vital to the development of the piece, continuing our commitment to productions rooted in lived experience.

As a result, Abi is now in a strong position to move to the writing phase, once further funding is secured. This places us on track for a full production in 2027–2028, following a dedicated development period in 2026 that will focus on building the partnerships needed to bring the production to fruition.

“Ah, WELL, you’re all in for a treat...we’re going on a mudlark...”

Thrive

We are steadily growing our Thrive programme. Over the past year, we have begun working with new partner organisations and have also engaged former participants in consultation.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

(A company limited by guarantee)

DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

We completed work with our long-term partner organisation, the Gaia Centre, run by Refuge. Here we engaged women who were all survivors of domestic abuse:

“I'm so grateful to have had the opportunity to be part of the Thrive group. I was initially unsure if I'd like it but couldn't have been more wrong. Thank you!” Participant, 2024

We have also begun to work with our new long-term partner organisation, Woman’s Trust, who support the mental health needs of women survivors of domestic abuse. This is a rekindling of a prior relationship as we have worked with Woman’s Trust previously and they are a proactive and communicative partner. We are delivering sessions online with this group -as the women they support are in various areas across London - and have also trialled an in-person session. This was successful and allowed us to celebrate the women’s achievements live, before a short summer break.

“It's funny I never thought about sharing these words with anyone, but it even says in the piece that I want to 'create and share with people'. Thank you for allowing me to fulfil my hopes and dreams of yesteryear.” Participant, 2025

We engaged former participants through our new production, Argos Archives . Former Thrive participants (who previously worked on the development of this show) formed an advisory group to consult on the production. This included advisory sessions in the months leading up to the production, sessions in rehearsals working with the artistic team, attending a performance and being part of a relaxed Q&A session with the audience. This group was credited in all publicity and marketing for the show.

We also used the production of Argos Archives as a starting point for two short-term Thrive groups; engaging neurodiverse women and exploring themes from the production. One group (London) produced their own visual work, which complimented the highly visual elements in the production. These sessions were led by visual artist Grace Attlee. The other group based in Newcastle, worked with local artists Rachel Stockdale and Lucy Curry. Participants were commissioned by Futures to write short pieces around themes in Argos Archives to be included in a new episode of our podcast series Fully Amplified . These pieces were woven throughout the episode, alongside the group’s conversation.

We worked with new partner Pecan, who support women in their local area facing a range of marginalisations, including women affected by the criminal justice system. They were particularly interested in music; we delivered a successful songwriting programme, culminating in a sharing at an open-day celebration. The success of these sessions allowed us to also deliver a short programme relating to a new production in development, My Name is Mud. Writer Abi Zakarian (currently on commission) led sessions on mudlarking by the river (a theme in this new production) and also creative writing sessions which encouraged the group to produce work inspired and informed by the objects and stories they uncovered.

Professional Training

We delivered training for repeat clients: social work students at Brunel University and Essex University. We also delivered training for social workers in their first year of practice in London Boroughs of Tower Hamlets and Merton.

We delivered sessions over two weeks as part of the North-East London Assessment Centre for prospective social workers. Eight boroughs worked together to interview candidates, Futures provided actors to perform role plays throughout the assessment period.

“I Found it an interactive and positive way of learning and developing my practice.” Participant, 2025 “Clearly very impactful for the group; I was very impressed with their participation and openness - also a reflection of the space created by you and the team.” Client, 2025

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

(A company limited by guarantee) DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

PUBLIC BENEFIT STATEMENT

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The achievements and activities above demonstrate the public benefit arising through the charity’s activities.

FINANCIAL REVIEW

Futures Theatre remained in a position of financial stability due to the continuation of our five-year grant from the City Bridge Foundation, and three-year grant from the National Lottery Community Fund.

This offers positive opportunities to approach other funders. We also have various applications pending, as part of a strategic approach to growing organisational resilience by building partnerships outside London. We are also continuing our focus on earned income through training, refreshing our marketing and broadening our client base and topics for our work.

Trust, Foundation and Grant Funders for 2024-25

Arts Council England City Bridge Foundation David Family Foundation D’Oyly Carte F.H. Sayers Foundation Landsec SE Franklin Family Trust SoWN London Eye Community Chest

Income increased from the prior year, 24-25 £446,755 (23-24 - £151,870), as did expenditure 24-25 £283,485 (23-24 - £156,526), with additional expenditure due to the production Argos Archives. The financial outturn has been positive, with a large surplus of £163,270 for the year, due to an outstanding Theatre Tax Relief claim, this marks a significant improvement from the end of 23-24 (net deficit £4,656).

Reserves have increased, standing at £203,362 at the year-end (23-24, £40,092), The financial position at the end of the year revealed by the Balance Sheet shows net current assets of £198,878 (23-24 - £35,415). The net book value of tangible fixed assets held, which are used directly for charitable purposes, amounted to £ 4,484 (23-24 – £4,677). This reflects the purchase of a new monitor and a MP ProDesk minicomputer midway through the financial year.

Investment power and policy

The Trust Deed authorises the Trustees to make and hold investments using the general funds of the charity. The Trustees have the power to invest in any way that they see fit.

Reserves policy

As at the year end, financial statements showed reserves of £203,362 (23-24, £40,092), of which £203,362 (23-24 - £40,092) are unrestricted. The unrestricted funds not designated or invested in tangible fixed assets were £198,878 (23-24 - £35,415).

The Company’s policy on reserves has been set at a minimum of three months’ running costs, with the ambition to reach six months’ running costs. The total unrestricted reserves provide Futures Theatre with 8 months’ running costs.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

TRUSTEES' REPORT (INCULDING DIRECTORS' REPORT) (CONTINUED)

DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

FUTURE DEVELOPMENTS

After moving into a period of greater financial and organisational stability, we are now focusing on securing the longevity of this stability beyond the end of our two 3-5 year grants. Our priority is to diversify income streams through the growth of our current organisational offer, with the dual purpose of increasing the public good we are able to deliver.

Co-Productions

Beyond Loop , we aim to expand our co-productions strand by partnering with emerging artists who face multiple marginalisations. As co-producer, we will provide essential support often overlooked in creative training, such as bookkeeping, finance, and HR, sitting firmly within the general management space. This approach will not only allow artists to focus on their creative practice, but also offer guidance to help them upskill beyond our direct collaboration. In doing so we begin to embed Futures’ ethics more widely across the theatre sector.

The aims of this project are to:

Over 2025-26, we aim to begin a trial of this project, following the development of a consistent framework that ensures artists are supported and that the quality of production meets our standards. This framework will be shaped by the evaluation of Loop .

Thrive

We plan to expand Thrive over the next four years. Year on year, we aim to increase the number of partner organisations we work with, the number of programmes delivered (short and long term) and, significantly, the number of women we reach.

This will include working with women in our immediate local area, as part of the development of our new production, My Name is Mud . We will offer mudlarking sessions on the Thames foreshore in Waterloo, and creative writing sessions offering women the chance to explore the objects they have uncovered.

Alongside this, we will also continue to nurture relationships with previous partner organisations, to continue reaching women who are newly engaging with their service.

Productions

2025-26 will mark a period of development for our productions, centred on our two current productions: Argos Archives and My Name is Mud . Our focus will be on securing the partnerships necessary to revive and debut these works.

For My Name is Mud , we will continue applying for grants, particularly in light of new developments that bring the piece into sharper focus on the criminal justice system. This will include developing training positions within the organisation for individuals with lived experience of the system, alongside creating a Thrive-specific programme that aligns with the themes of the production.

For Argos Archives , we will return to a pre-development phase, reworking the core of the production to make it more adaptable for touring. A key focus will be ensuring the show can fully meet the access needs of our predominantly neurodivergent cast and crew.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

TRUSTEES' REPORT (INCULDING DIRECTORS' REPORT) (CONTINUED)

DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

Training

We will continue to offer training for universities and local authorities who employ or train social workers.

Ethical Framework

Designed as a live document, the ethical framework establishes and records our good practice, ensuring that the senior management team’s years of lived experience can be meaningfully shared with the individuals we work alongside. To make this approach viable and adaptable, we will create framework documents specific to each project

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Futures Theatre Company is registered as a company limited by guarantee and not having share capital. Its operations are governed by its Memorandum and Articles of Association (M&AA). If the Company is wound up, each member is required to contribute an amount not exceeding £1.

The company was incorporated on 23rd January 1996 and registered as a charity on 12th February 1996. charity registration number is 1052890 and the company registration number is 03149687.

Recruitment and appointment of Trustees

As set out in the Articles of Association, the Chair of the Trustees is nominated by Futures Theatre Company. The organisation’s Directors are also the charity Trustees for the purposes of charity law.

The process of appointing a new Trustee is led by a nominations panel that typically includes the Chair, Deputy Chair or Treasurer, and another Trustee (usually the trustee with HR and board recruitment experience). The Artistic Director and other members of the Board should be invited to meet shortlisted candidates or, at minimum, the preferred candidate prior to appointment. The full Board should formally approve new trustees.

Potential Trustees will then be invited to attend a board meeting to observe and meet the rest of the board. Presuming all agree on the fit, the Trustee receives information outlining the history of the charity and a copy of the charity’s governing document, its Memorandum and Articles of Association. Trustees are then invited to attend an induction meeting with the Chair and Artistic Director to understand how the Company operates and to learn more about its short and long-term aims and objectives. New Trustees are offered a pre-board meeting conversation to discuss agenda items, accounts or whatever they may find useful.

The Trustees have no beneficial interest in the company other than as members. Trustees serve a three-year term with one three-year renewal. A third term may be considered only in exceptional circumstances, subject to Board approval.

Futures Theatre’s Trustees attend four Board Meetings a year. They take part in working groups and subcommittees and attend performances and events. They are a point of contact throughout the year for guidance and support. An individual Trustee is allocated to each member of staff who has a more in-depth knowledge of that employee’s role and responsibility. We have a highly skilled and engaged Board.

Our Board members are:

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

TRSUTEES' REPORT (INCLUDING DIRECTORS ' REPORT) (CONTINUED)

DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

We began recruitment for new trustees in March 2025, concluding in the recruitment of two new trustees who are due to be appointed to the board September 2025.

Organisation:

In January 2024, we expanded our team with the appointment of a part-time Administrator. Following the retirement of our long-standing bookkeeper, Carole Mold, we secured the services of Fresh Eyes Finance, an accountancy practice specialising in charity and theatre finance. They now provide our bookkeeping services and will assume the role of organisational accountants from the end of the 2024–25 financial year. We also continue to work with our freelance fundraiser, David Shopland.

RELATED PARTIES

Futures Theatre is a member of the Independent Theatre Council (ITC). The ITC is the UK’s leading management association for the performing arts, representing over 400 organisations and producers nationwide. The ITC provides a comprehensive package of advice services, training and professional development opportunities, networking meetings and exclusive service discounts.

RISK MANAGEMENT

The Trustees have a risk management strategy that comprises:

In addition, steps have also been taken in the following areas to mitigate risks:

• Loss of staff

Futures’ staff maintain a clear document trail for ongoing projects and key negotiations, so that other staff members or interim staff can step in and cover tasks. They also hold weekly company meetings to share current priorities and key information.

• Loss of partners

This risk is managed by maintaining effective communication with our partners so that we have notice of significant changes. Futures will maintain conversations and relationships with a diverse portfolio of partners in our network, so that replacements can be found quickly if a major partner drops out of a project.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

TRSUTEES' REPORT (INCLUDING DIRECTORS ' REPORT) (CONTINUED) DIRECTORS’ AND TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 JULY 2025

• Failure to secure income targets

This is managed through regular monitoring between the team, the Fundraising Subcommittee and the Board of Trustees. We have a detailed strategy for maintaining existing relationships with funders and developing new ones. We recognise that there is increased competition for funding. We are working closely with our freelance fundraiser to strengthen our case for support, so that we can communicate our impact effectively to funders and to develop fundraising skills in-house. We have developed our training offer to exist online or in a hybrid format, including in-person and digital work, so that we can be flexible in response to our clients’ needs and more proactive in securing new clients. We are actively seeking clients. We are actively seeking clients in different sectors, to enable us to reach the widest possible client base for this work.

" The Trustees’ report was approved by the Board of Trustees and signed on its behalf by:

Giulia Ascoli Chair Date: 2/9/2026

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FUTURES THEATRE COMPANY

I report to the trustees on my examination of the financial statements of Futures Theatre Company (the charitable company) for the year ended 31 July 2025.

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might state to the company's members those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our work, for this report, or for the opinions we have formed.

Responsibilities and basis of report

As the trustees of the charitable company (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 (the 2006 Act).

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

Independent examiner's statement

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:

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.

Jonathan Chartres FCA

31 Moor Park Road, Hereford England, HR4 0RR

Dated:

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

STATEMENT OF FINANCIAL ACTIVITES

INCLUDING INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2025

----- Start of picture text -----
Unrestricted Restricted Total Total
Note Funds Funds 2025 2024
£ £ £ £
Income from:
Donations & legacies 3 13,157 - 13,157 7,776
Charitable activities 4 4,000 233,176 237,176 132,162
Other charitable trading activities 5 9,511 - 9,511 11,758
Investments 6 799 - 799 174
Theatre Tax Relief 186,112 - 186,112 -
Total Income 213,579 233,176 446,755 151,870
Expenditure on:
Raising funds 7 10,700 - 10,700 14,800
Charitable activities 8 39,609 233,176 272,785 141,726
Total Expenditure 50,309 233,176 283,485 156,526
Net expenditure for the year/
Net movement in funds 163,270 - 163,270 (4,656)
-
Fund balances at 1 August 2024 40,092 40,092 44,748
-
-
Fund balances at 31 July 2025 203,362 203,362 40,092
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 12 to 25 form part of these financial statements.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

BALANCE SHEET

AS AT 31 JULY 2025

Note
Fixed Assets
Tangible assets
13		 £
2025		 £
4,484		 £
2024		 £
4,677
CURRENT ASSETS
Debtors
14
Cash at Bank		 186,112
18,657		 4,484 30
41,256		 4,677
CREDITORS:Amounts falling due
15
within one year		 204,769
(5,891)		 41,286
(5,871)
Net current assets 198,878 35,415
Total assets less current liabilities 203,362 40,092
Income funds
Unrestricted Funds		 203,362 40,092
TOTAL FUNDS 203,362 40,092

The notes on pages 12 to 25 form part of these financial statements.

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 July 2025.

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 and were signed on its behalf by:

Signed by Signed by
Giulia Ascoli
Signedby:
prt >dacocS
75369D033FDC49A...		 Judith Barber
Signedby:
Chair Treasurer
2/9/2026 2/9/2026

Charity registration number 1052890 Company registration number 03149687

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENT

FOR THE YEAR ENDED 31 JULY 2025

1 ACCOUNTING POLICIES

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's the Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The charity’s financial statements show a Net Income of £163,270 (2024 – net deficit of £4,656) for the year and free reserves of £198,878 (2024 – £35,415).

At the time of approving the accounts, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

The Trustees have reviewed the forecast cashflow, the expected level of reserves, the potential for ongoing activity and the support of current funders, all of which enable the Trustees to consider that Futures may be considered a going concern.

1.3 Charitable funds

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

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and amount can be measured reliably.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 ACCOUNTING POLICIES

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, management, finance and administration personnel, payroll and governance costs which support the Trust’s programmes and activities. These costs have been allocated to expenditure on charitable activities.

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:

Computer Equipment, plant and machinery 25% written down value

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 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

1.9 Taxation

The Charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

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Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 ACCOUNTING POLICIES (Continued)

1.10 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.11 Volunteers and donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Charity is not recognised in the main body of the financial accounts but detail is contained in the Trustees report

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.No such services were received during the year.

1.12 Retirement benefits

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

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judge ments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Donations and gifts
S E Franklin Trust
Donations and sponsorship		 Unrestricted
funds
£
-
13,157
13,157		 Restricted
2025
£
-
-
-		 Total
2024
£
4,000
3,776
7,776

Government grants include Theatre tax relief receivable from HMRC.

14

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

4. Charitable activities

Ashley Family Foundation
Woodsmith Foundation
Thomas Wall Trust
Garfield Weston Foundation
Ace Lottery
City Bridge
Landsec
National Lottery Community Fund
David Family foundation
D'Oyly Carte Charitable Trust
Postcode Neighbour
ICS
Lawson Trust
Forrester Family Trust
Cockayne / London Community Foundation
Clothworkers Foundation
City of London
Analysis by fund
Unrestricted funds
Restricted funds
5. Other trading activities
Training fees
Other Income
For the year ended 31 July 2025		 Project
Delivery
£
-
-
-
4,000
98,202
13,225
3,000
58,049
5,000
4,000
-
10,000
-
-
-
-
41,700
237,176
4,000
233,176
Unrestricted
funds
£
9,200
311
9,511
9,511		 Total
2025
£
-
-
-
4,000
98,202
13,225
3,000
58,049
5,000
4,000
-
10,000
-
-
-
-
41,700
237,176
4,000
233,176
Total
2025
£
9,200
311
9,511		 Total
2024
£
2,000
4,000
5,000
20,000
22,037
-
-
-
-
3,000
9,950
-
3,000
10,000
8,000
5,500
39,675
132,162
20,000
112,162
Total
2024
£
11,500
258
11,758
11,758

15

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

----- Start of picture text -----
6. Investments
Unrestricted Total Total
funds 2025 2024
£ £ £
Investment income 799 799 174
799 799 174
For the year ended 31 July 2025 799 174
7. Raising funds
Unrestricted Total Total
funds 2025 2024
£ £ £
Staff costs 10,700 10,700 14,800
10,700 10,700 14,800
For the year ended 31 July 2025
Fundraising and publicity 10,700 14,800
----- End of picture text -----

16

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

8. Charitable activities

Staff costs
Marketing expenses
Production costs
Share of support costs (see note 9)
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 July 2025
Unrestricted funds
Restricted funds		 Project
Delivery
£
190,813
14,675
29,354
234,843
32,020
5,922
272,785
39,609
233,176
272,785
39,609
233,176
272,785		 Total
2025
£
190,813
14,675
29,354
234,843
32,020
5,922
272,785
39,609
233,176
272,785		 Total
2024
£
101,173
800
5,250
107,223
32,753
1,750
141,726
29,564
112,162
141,726
29,564
112,162
141,726

17

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

9. Support costs

Support
Costs
£
Staff costs
10,700
Depreciation
1,309
Rent, premises expenses and insurance
10,370
General office expenses
1,930
Communications
5,483
Professional fees
2,147
Bank charges and interest
80
Independent Examiner's fees
-
32,020
Analysed between
Charitable activities
32,020
32,020
10.Net movement in funds
Net movement in funds is stated after charging/(crediting)
Independent Examiner's fees
Depreciation of owned tangible fixed assets		 Governance
Costs
£
-
-
-
-
-
-
-
5,922
5,922
5,922
5,922		 Total
2025
£
10,700
1,309
10,370
1,930
5,483
2,147
80
-
32,020
37,942
37,942
2025
£
5,922
1,309		 Total
2024
£
14,008
1,560
9,790
968
2,939
3,313
175
1,750
34,503
34,503
34,503
2024
£
1,750
1,560

11.Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

The key management personnel of the charity comprise of the Artistic Director. The total employee benefits of the Artistic Director was £40,029 (2024 - £53,042).

12.Employees

The average monthly number of employees during the year was:

Direct project work
Administration work
Total		 2025
Number
2
1
3		 2024
Number
1
1
2

18

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Employees
Employment costs
Wages and salaries
Pension
National Insurance		 2025
£
100,234
16,113
-
116,347		 2024
£
90,490
3,814
4,821
99,125
(Continued)

12. Employees

There were no employees whose annual remuneration was more than £60,000.

13. Tangible fixed assets

Cost
At 1 August 2024
Additions
At 31 July 2025
Depreciation and impairment
At 1 August 2024
Depreciation charged in the year
At 31 July 2025
Carrying amount
At 31 July 2025
At 31 July 2024
14.Debtors
Amounts falling due within one year:
Trade debtors
Theatre tax relief		 Computer
Equipment
£
-
584
584
-
73
73
511
-		 Fixtures and
fittings
£
40,537
532
41,068
35,860
1,236
37,095
3,973
4,677
2025
£
-
186,112
186,112		 Total
£
40,537
1,115
41,652
35,860
1,309
37,168
4,484
4,677
2024
£
30
-
30

19

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

15. Creditors: amounts falling due within one year

Notes
Other taxation and social security
Trade creditors
Accural
Deferred income
16
Pension contribution
Government grants
Deferred income is included in the financial statements as follows:
Movements in the year:
Deferred income at 1 August 2024
Deferred income at 31 July 2025		 2025
£
4,436
( 879)
2,524
-
( 191)
5,891
2025
£
-
-
-		 2024
£
1,883
1,432
2,556
-
-
5,871
2024
£
20,950
( 20,950)
-

16. Government grants

17.Retirement benefit schemes

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The scheme is an auto enrolment scheme and provided by The People's Pension.

The charge to income and expenditure in respect of defined contribution schemes was £16,113 (2024 - £3,814)

20

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

18. Restricted funds

National Lottery Community Fund - Thrive
Postcode Neighbourhood Trust
Ashley Family Foundation
David Family foundation
Woodsmith Foundation
Thomas Wall Trust
D'Oyly Carte Charitable Trust
ICS
Ace Lottery
City Bridge
Landsec
City of London
Lawson Trust
Forrester Family Trust
Cockayne / London Community Foundation
Clothworkers Foundation		 Balance at
08/01/2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Incoming
Resources
£
-
9,950
2,000
-
4,000
5,000
3,000
-
22,037
-
-
39,675
3,000
10,000
8,000
5,500
112,162		 Resources
expended
£
-
(9,950)
(2,000)
-
(4,000)
(5,000)
(3,000)
-
(22,037)
-
-
(39,675)
(3,000)
(10,000)
(8,000)
(5,500)
(112,162)		 Balance at
08/01/2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Incoming
Resources
£
58,049
-
-
5,000
-
-
4,000
10,000
98,202
13,225
3,000
41,700
-
-
-
-
233,176		 Resources
expended
£
(58,049)
-
-
(5,000)
-
-
(4,000)
(10,000)
(98,202)
(13,225)
(3,000)
(41,700)
-
-
-
-
(233,176)		 Balance at
31/07/2025
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

21

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

18. Restricted funds

(Continued)

National Lottery : Awards for All : Towards Thrive engagement project.

D’Oyly Carte Charitable Trust : Thrive engagement project.

David Family foundation : Towards Thrive engagement project. ICS : Towards Thrive engagement project.

Postcode Neighbourhood Trust : Towards Thrive engagement project. Ashley Family Foundation : Towards Thrive engagement project. Woodsmith Foundation : Towards Thrive engagement project. Thomas Wall Trust : Towards Thrive engagement project. Ace Lottery : Towards Thrive engagement project. City Bridge : Towards Thrive engagement project. City of London : Towards Thrive engagement project. Landsec : Towards Thrive engagement project. Lawson Trust : Towards Thrive engagement project. Forrester Family Trust : Towards Thrive engagement project. Cockayne / London Community Foundation : Towards Argos Archive.

Clothworkers Foundation : Towards IT costs.

22

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

19. Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Expansion of project
Thrive		 Balance at
08/01/2023
£
-
-
-		 Incoming
resources
£
-
-
-		 Resources
expended
£
-
-
-		 Balance at
08/01/2024
£
-
-
-		 Incoming
resources
£
-
-
-		 Balance at
31/07/2025
£
-
-
-

Designated funds were towards costs related to our engagement programme Thrive: including direct project costs and a proportion of salaries and overheads to cover time spent on the project.

23

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

20. Analysis of net assets between funds

Fund balances at 31 July 2025 are represented by:
Tangible assets
Current assets/(liabilities)		 Unrestricted
funds
£
4,484
198,878
203,362		 Designated
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 Total
2025
£
4,484
198,878
203,362		 Unrestricted
funds
£
4,677
35,415
40,092		 Designated
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 Total
2024
£
4,677
35,415
40,092

24

Docusign Envelope ID: EB9948AB-4314-4E41-871F-18A38A3FACC0

FUTURES THEATRE COMPANY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

21. Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

22. Liability of Members

The charity is constituted as a company limited by guarantee and does not have a share capital divided by shares.

In the event of the Company being wound up, each member is required to contribute an amount not exceeding £1.

25