COMPANY REGISTRATION NUMBER: 2928738 CHARITY REGISTRATION NUMBER: 1056852 Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Financial Statements 31 August 2024 AE343LOR 2210512025 COMPANIES HOUSE A24 CHARLTON BAKER BRISTOL LTD Chartered accountants & statutory auditor 61 Macrae Road, Ham Green, Bristol BS20 ODD
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee ' Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 August 2024 The trustees. who are also the directors for the purposes of company law. present their report and the financial statements of the charity for the year ended 31 August 2024. Reference and adminlstratlve detalls Registered charity name Academy for Contemporary Circus and Physical Theatre Charity reglstration number 1056852 Company reglstratlon number 2928738 Princlpal offlce and régistèred St Paul's Church offlce Portland Square Bristol BS2 8SJ The trustees AHay C Williams L Tanner M Booth M Jones N Stephenson P Brown A Dalton-Hardy M N Panay S Wilson-Evans (Resigned 19 December 2024) (Resigned 1 March 2025) (Appointed 19 December 2024) (Resigned 19 December 2023) (Resigned 28 Seplember 2023) (Appointed 30 January 2025) (Resigned 29 March 2025) Audltor Charlton Baker (Bristol) Ltd Chartered accountants & statutory audltor 61 Macrae Road. Ham Green. Bristol 8S20 ODD 8ankors Unity Trust Bank 4 Brindley Place Birmingham B12JB
Academy for Contemporary Circus and Physical Theatre Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2024 Objedlves and actlvlti•s The Trustees are pleased to present their annual directorfs report and the audited consolidated financial statements for the year ended 31 August 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The fin8ncial statements comply with thè Charities Act 2011, the Companles Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland effective from 1 January 2019. How our actlvltles dellver publlc beneflt The Trustees have had regard to the.9uidance on publlc beneflt, How our aclivities deliver public benefit. Our Charitable Objects are: (a) the promotion of vocatlonal training in clrcus skills and physicAI theatre (b) the promotion of education and training in the creative and artistic application of circus skills and physical Iheatre in artistic performance (c) the advancement of the arts through production and performance. with a particular focus on conternporary circus and physical theatre Strateglc report The following sections for achievements. performance and financial review form the strateglc report of the charity.
Academy for Contemporary Circus and Physical Theatre Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2024 Achievements and performance Academy Following the post pandemic drop in student numbers, there were signs of an upturn again in September 2023. 45 students graduated in summer 2024 and a further 19 stayed on into the second year of the Foundation Degree. We have continued to support the only remalning BTEC for Circus within the UK but paused the MA this year for review. We took new approaches to student recruitment including creating a new prospectus. having paid social media adverts and doing more on email marketing. We embarked on new roadshows and sent representatives to the British Juggling Convention which resulted in new stud8nts for September 2024. Students were approached by employers such as Green Man festival and Cirque Bijou for summer holiday performances at Glastonbury. Green Man and Camp Bestival. Alumnl The theme of our 30th anniversary was to celebrate all of the incredible talent that had been nurtured at Circomedia. Our performance programme throughout 2024 focused on celebrating work created and performed by Clrcomedia alumni from 1989 to 2023. The work on show ranged from children's theatre to cabaret, from themes of identity to narrative tales and from comedy to tragedy. We raised funds to enable us to do our first children's show commission and through an open selection process with local refugee communities through the charity Borderlands. Acrobatic Adventures were selected and created a new show 'Mother Dee¢ with the expert guidance of Nikl Mccretton of Sluff & Nonsense. another Circomedia alumni. There were 6 full shows and the company are now tsking the show forward for national touring. Pèrformane•8 Our Portland Square venue was used by many vislting companies, student and alumnl shoKE as well as our local community. There were 40 ticketed shows through our box office which reached an audience of 4000. 500 more attended the separately ticketed Circus City festival shows. There were free community events such as three Open Doors free community taster days for children featuring circus, African drumming workshops and Caribbean food which reached 900 people or a St Paul's Carnival Human Library storytelling event which reached 100 people. In total there were over 45000 visitors to the church during this year. We brought back full print season brochures of 16 or 20 pages to showcase the wide variety of work taking place across Circomedia. This Is in comparison to the leaflet designs used from before I started. Brochures were also distributed locally by a professional distribution ntre. Youth Clrcus and Communlty "The bursary has been brilliant as a single parent as l o)uldn't have afforded it and he was devastated at the idea of needing to leave. He loves coming. Thank you for giving him confidence physically because his whole life he's never had that due to additional needs." Bursary recipient 23124 "She is absolutely thrilled that she can perform a cartwheel now and we've all seen Her video of flying trapeze (which she's quietly proud ofj. Her confidence lo try new Ihings has increased greatly. To start the summer holidays in such a positive way has had posilive impact throughout her whole family. AMAZING THERAPY FOR A TEEN STRUGGLING WITH HER MENTAL HEALTH. Thank you!. Our Youth Circus sessions remain incredibly popular and oversubscribed. We fundraise for bursary places so children from families who can't afford to pay can also enjoy what we have to offer. Youth
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (continu Year ended 31 August 2024 circus and classes attendance reached 21,500 (up from 21,093 in 22123). The Annual Youth Circus Showcase was the biggest ever done - 550 students performed over 12 perfomances. Their themes were celebration of Bristol as home and telling the tale of a travelling circus family. Partnership work In¢ased through the year. We partnered with Community of Purpose to deliver multiple workshops through August to 60 young people. These students are recipients of Free School Meals and do not have regular access to clubs and activities due to financial hardship and living in areas of deprivation. We developed new partnerships with organisations such as the Princes Trust. and Culture Weston for 'Whlrligig' delivering workshops. We partnered with Bristol Musical Comedy Club to teach their cast circus skills for their production of 'Pippin' which involved collaborating with their dance and staging director and working out group ensemble performances as well as teaching actors with no circus skills how to perform circus on stage. And we partnered with Shakespeare Birthplace Trust to deliver clrcus theatre workshops across 6 schools, Years 3*, to multiple classes in Bristol combining circus with Shakespeare's 'The Tempest, and culminating in a performance on the SS Great Britain by by Hoe[[S Primary School. We ran 9 free farnily circus workshops for the omrnunity of Knowle West reaching over 100 participants. This increased activity was the result of increasing the capacity in the team with the Manager becoming full-time and with the creation of a Senior Team of 3 teachers, the Co-ordinator and an Administrator. It is our intention to grow the capacity in the team becaus8 of the gr0h potential of this programme strand. Events and Corporate Hlres During the year we had around 4800 guests at our commerclal events and hires. These included 4 weddings and 6 Christmas parties. We developed our offer by introducing drinks packages and developing stronger relationships with suppliers. There was new training for the Front of House team. Communlcatlon8 A new marketlng and communlcations strategy was implemented. A brand refresh was achleved wlth The Graphic Design House, aligning our visual image with our mission, vision and values. Google Analytics 4 and Meta Pixels were set up to enable data capture of our online user journeys and inform marketing decisions and future plans. A partnership was developed with Digital Culture Network to analyse and take advice on improving our website structure and SEO to improve user journeys and encourage increased online engagement. 2 Marketing Assistants were trained on Dotdigital use for email marketing. proof reading and copy writing practices, Canva for design and content crealion, baslcs of SEO for Wordpress. There was one paid Intemship from a student from Brlstol University. Our social media followers increased by 2050/9 on Facebook page (15,437 visits) and 1500/0 on Instsgram (14,973 visits). We came off X as it doesn't align with our values. We raised awareness of our charitable status through the Gala and wider comms. We began conversations with Spektrix on how to improve online donation journey and automate processes and launched 301h Anniversary with a new logo, press releases, season brochures. 30th anniversary video and regular social media content. We increased awareness of Circomedia in general through press and PR resulling in the Spring 2024 documentary from ITVX and an increase in local radio interviews with the likes of BCFM, BBC radio Bristol, and BBC nev (community workshop coverage).
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢ontlnuedJ Year ended 31 August 2024 Achlevements and performance (¢ontlnu•d) Fundraising We were very grateful to our funders for their support through the year . Arts Council England, Bristol City Council, Garfield Weston Foundation, Garrick Charltable Trust, Foyle Foundation, Leche Trust, Nisbet Trust. Triodos. We ran a glamorous cabaret fundraiser called the Spring Gala which will now be run every other year. Thanks to Auctioneum who expertly led an auclion for us at the Gala and to the people who donated the amazing experience-based auciion items; Afidance Aardman Bristol 2417 Dan Broadbent Derren Brown Sasha Frost Andy Hay Catherine Johnson Rod Laver Paul McGann John O'Hara Jonathan Priest Emma Rice Joe Slms Tony Robinson And to Ruby Turner, Bristol Television and Film Services. Bristol Beer Factory, Six O Clock Gin for supporting the event.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continu•dJ Year ended 31 August 2024 Flnanclal rev5ew Through strict financial management and focusing on increasing fundraising. we significantly'irnproved the yearfs outtum compared to the previous year however it wasn't enough to pull back on our deficit position and the lack of reserves to draw on led to a negative liability position. The continuèd deficit was due to continued high people, rent and energy costs. Circomedia's resenie policy aims to hold adequate reserves as follows: flow to fund activities To ensure continuity of activities during periods of change - To enable investment in gr0h and development To enable Circomedia to fulfil legal obligations should it cease to operate To provide adequate cash The Trustees consider a target to maintain reseNes representing 2-3 months of. ttire activity (excluding grant funded project activity). Our unrestricted resetves as at 31 August 2024 stood at deficit of £90,169 The Board have worked tirelessly, meeting Monthly to consider and interrogate the compan$ position and put in place the funds necessary to stabilise the organisation and grow forwards. They hav8 taken advice from experts about processes to follow and lo ensure that they are acting responsibly. We believe that we have the plans in place needed to work through this with a clear direction of travel. We were supported by the Reach Fund to work with 3 external experts: Dr Roz Stewart-Hall on social impact, Suzie Campbell on financial planning and Sarah Smilh on business planning. These experts collaborated to wrlte a detailed business plan around social impact and growth. The growth is being driven by rises in fees and volume of delivery, by reviewing how we deliver our teaching programmes and rebuilding capacity in the areas needed to drive gr0h ie youth circus, marketing, finance and fundraising. The social impact work is focusing on building local relationships and recognising the positive impact our work has in terrns of .. Increasing confidence and wellbeing, reducing anxiety and strengthening soclal cohesion. The financial statements have been prepared on a going concem basis. In making this assessment Trustees have considered our current forecast expectations over the next 12 months, alongside our ongoing contractual arrangements wilh our education providers - Bath Spa University and City of Bristol College - as well as our continued support from the Arts Council, Bristol City Council. Creative Youth Network (as landlords) and other stakeholders.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 August 2024 Plans for future periods We shall overcome the immediate cashflow crisis by securlng Investment into strengthening our capacity to drive growth and increasing income across the organisation, particularly focusing on the programmes delivered to children and young people. We have the offer of a social impact loan to enable us to meet this challenge. Our dats shows that there is the potential to earn more income from these strands. There will be increases in prices and in volume to achieve this, as well as a continued focus on building fundraising and commercial activities. Relationship-building will be an importanl characteristic of the 202516 year and will include-developing a new partnership with a successful commercial circus company, Anystage, to tske on new spaces and develop training into employment routes in circus and the creative industries for our students and practrtioners alongside joint performance opportunities to boost income. Our fundraising viill be built around deliverlng our new Social Impact Plan. The Plan demonstrates the added value to the circus experience which includes InCaSed confidence and wellbeing. reduced anxiety and increased social cohesion. We shall particularly b8 looking to strengthen our development work to nurture participants and students from the Global Majority as well as celebrating the existing diversity amongst students and staff.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnued) Year ended 31 August 2024 Structure. governance and managomont Appolntmènt of Trust•os. Trustees are appointed by the current board. following open recruitment calls. and inviting applicants to respond to the Board recruitment pack O'ob description and person specification) that Is publlshed on the website and through social media. Following receipt of applications. existing trustees meet and interview prospective members and if in agreement approve appointments at the next board meeting. In addition to their statutory dutles, each trustee brings specific skills, knowledge or experlence to help the board of trustees reach sound decisions. The artides of association specify a minimum of three trusteesldirectors and no maximum. There are six trustees cUently, wilh further recruitment planned for Summer 2025. including youth representation. The staffing structure will be reviewed again in early summer 2025 with a view to ensuring that we are achieving best value and improve financial viability. This review will be led by the Board and the Senior Management Team with expert advlce taken where appropriate. Governlng document The organisation is a charitable company limited by guarantee incorporated on 13 May 1994 and reglstered as a charity on 16 Jul 1996. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under it's Articles of Association. These were updated and adopted by special resolution passed on 8 September 2014, including the name Academy for Contemporary Circus and Physical Theatre. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Organlsatlonal Structur• The Academy for Contemporary Circus and Physical Theatre (trading as Circomedia) Is constituted as a non-profit making Limtted Company. It has operated as a company limited by guarantee since May 1994 and became an educational charity in 1986. A trading subsidiary, Circomedia Enterprises, was set up in 2008 and Its contribution to the charity's funds is important. The Company's overall strategy is supervised by its Board of Trustees. The management team (key management personnel) of three is responsible for the day to day managemenl of the Charity. Trustees. responslbllltles statement The trustees. who are also dlrectors for the purposes of company law. are responsible for preparing the trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for that period.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) f¢ontinued) Year ended 31 August 2024 In preparing these financial statements. the trustees are required to: select suitable accounting pollcles and then apply them conslstently,, observe the methods and principles in the applicable Charities SORP; make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Stsndards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basls unless it Is Inappropriate to presume that the charity will continue in business, The trustees are responslble for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audllor EaGh of the persons who is a trustee at the date ol approval of this report confirms that.. so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infomation and to establish that the charity's auditor is aware of that Information. The trustees, annual report and the strategic report were approved on 24 April 2025 and signed on behalf of the board of trustees by: AHay Trustee
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditor's Reportto the Members of Academy for Contemporary Circus and Physical Theatre Year ended 31 August 2024 Oplnlon We have audited the financial statements of Academy for Contemporary Circus and Physical Theatre (the 'charity') for the year erlded 31 August 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position. statement of cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial ststements.. give a true and fair view of the state of the charitys affairs as at 31 August 2024 and of its incoming resources and application of resources. including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally A'ccepted Accounting Practice. have been prepared in accordance with the requirements of the Companies Acl 2006. Bas15 for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilitles for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concèrn In auditing the financial ststements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financlal statements is appropriate. Based on the work we have performed, we have noi identified any material uncertainties relating to events or condrtions that. individually or collectively, may casl significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Emphasis of matter The charity has made disck)sures in the noles to these financial statements concerning the difficulties experienced in order to continue as a going concern. The trustees have reviewed these disclosures and consider that it is appropriate for the charity to prepare the financial statements on a going concern principle. Your attention is drawn to these disclosures as they present an uncertainty in the presentation of Ihese financial statements however our opinion is not modified in this regard. 10
Academy for Contemporary Clrcus and Physical Theatre Company Limited by Guarantee Independent Auditor's Report to the Members of Academy for Contemporary Circus and Physical Theatre (¢onllnued) Year ended 31 August 2024 Other Inforniation The other information comprises the information included in the annual report. other than the financial ststements and our. auditor's report thereon. The trustees are responsible for the other infomiation. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsiblllty is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material misststement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that Ihere is a material misststement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on othor matters prescrlbed by the Companlos Act 2006 In our opinion. based on the work undertaken in the course of the audit: the information given in the trustees. report for the financial year for which the financial statements are prepa is consistent with the financial statements., and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of Ihe charity and its environment obtained in the course of the audit, we have not Identlfied material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion,. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not In agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specrfied by law are not made. or we have not received all the information and explanations we require for our audit. 11
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditor's Report to the Members of Academy for Contemporary Circus and Physical Theatre (continued) Year ended 31 August 2024 Responslbllltles of trustees As explained more fully in the trustees. responsibilities statement. the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine..is.'necessary to enable the preparation of financial ststements that are free from material misstaternent, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to contlnue as a going COnrn, disclosing. as applicable, matters related to going concern and using the. going conrn basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic altemative but to do so. 12
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditor's Report to the Members of Academy for Contemporary Circus and Physical Theatre (¢ontlnued) Year ended 31 August 2024 Audltor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are insL3nces of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo detect material misstatements in respect of irregularities, including fraud. The extent to whlch our procedures are capable of detecting irregularities. including fraud is detailed below: Key audlt matters.our assessment of rlsks of material misstat•ment Key audlt matters are those matters that In our professlon81 judgem8nt were of most significance in the audit of the financial statements and include the most significant assessed risks of material misstatement (whether or not due to fraud) identified by us. including those which had the greatest effect on Ihe allocation ol resources in the audit. and directing the efforts of the engagement team. There are no key areas identified as the audit is low risk with normal audii procedures adequate in all audit areas. We agreed to report to the board of trustees any corrected or uncorrected identified misstatements. To identify risks of material misstatement due to fraud we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included,. Y Enquiring of the Chief Executive and the Trustees and inspection of key papers provided to those charged wilh governance as to hlgh level policies and procedures to prevent and detect fraud. Reviewing the minutes of Trustees. meetings. We communicated idenlified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit. As required by auditing standards, and taking into account possible pressures to meet targets and our overall knowledge of the control environment, we performed procedures to assess the risks of management override of controls. To address the pervasive risk as it related to management override of controls, we reviewed material journal entries and agreed these to supporting documentstion where appropriate. Identifying and responding to risks of material misstatement due to non•compllance wlth laws and rogulatlons We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial ststements from our general commercial and sector experience and through discussion with the Chief Executive and Trustees. Our assessment of risks involved gaining an understanding of the control environment including the entity's procedures for complying with regulatory requirements. 13
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditor's Report to the Members of Academy for Contemporary Circus and Physical Theatre (¢ontlnued) Year ended 31 August 2024 We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably: Firstly,the charity is subject to. laws and regulatior)s that directly affect the financial statements including financial reporting regulation (including related companies regulation), taxation legislation (payroll taxes) and. pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures in the audit areas relevant to these items. * Secondly,the charlty is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such as effect,, Health and safety laws. Laws relating to working with, and the safeguarding of. young people and vulnerable adutts. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of management and trustees and inspection of regulatory and legal correspondence, if any. Therefore, if any breach ol operational regulations Is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach. Limitations to th• ability of the audlt to detect fraud or breaches of laws and regulatlon Owlng to the inherent Ilmltation of an audit, there is an unavoidable rlsk Ihat we may not have detected some material misstatements in the financial statements, even though we have properly planned and perforrned our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition. as with any audit, there remained a higher risk of non-detection of fraud. as this may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit prOdureS are designed to detect material misstatement, and therefore we are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the FRC'S website at www.frc.org.uklauditorsresponsibilities, This description forms part of our auditorfs report. As part of an audit in accordan with ISAS (UK), we exercise professional judgment and maintsin professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material rnisstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresenlations, or the override of internal control. 14
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditor's Report to the Members of Academy for Contemporary Circus and Physical Theatre (conflnued) Year ended 31 August 2024 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but rK)t for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on. the appropriateness of the trustees, use of Ihe going concern basis of accounting and. based.on the audit evidence obtained. whether 8 malerial uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions May cause the charity to cease to continue as a going concem. Evaluate the overall presentation, structure and content of the financlal statements, Including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. .We communicate with those charged with governance regarding. among other matters. the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Us• of our report This report is rnade solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body. for our audit work. for this report. or for the opinions we have formed. Nicolas Michael FCA (Senior Statutory Auditor) For and on behalf of Charlton Baker (Bristol) Ltd Chartered accountants & statutory auditor 61 Macrae Road, Ham Green, Bristol BS20 ODD 24 April 2025 15
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 August 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note In¢omè and èndowm•nts Donations and legacies Charitable activities Other trading activities Investment income 188,247 886,673 138,158 44,769 1,257,847 4.882 193,129 886,673 138,158 44,769 1.262,729 151.733 882.251 133.865 44,491 Total Income 4,882 1,217,340 Expendlture Expenditure on charitable activities Total expendlture 9,10 1,362.430 1,362.430 3,583 1.366,013 1,447,743 1,447,743 3,583 1.366.013 Net expendlture and net movement In funds (104,583) 1,299 <103,284) {235,403) Reconciliation of funds Total funds brought forward Total funds carrled forward 14,414 14.414 249,817 (90,169) 1,299 (88,870) 14.414 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 19 to 32 form part of these financial statements. 16
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Statement of Financial Position 31 August 2024 2024 2023 Note Fixed assets Tangible fixed assets 16 13,398 13,148 Current assets Stocks Debtors Cash at bank and in hand 18 19 2.587 40.104 66,580 109.271 4.184 . 87.341 99.411 190,936 Credltors: amounts falllng du6 wlthln one year Net current Ilabllltles 20 211,539 189,670 (102.268) (88,870) (88,870> 1,266 Total assets less current Ilabllltles 14,414 14,414 Net Ilabllltles Funds of the charity Restricted funds Unrestricted funds 1,299 (90.169) {88.870) 14.414 Total charlty funds 22 14,414 These financlal statements have been prepared In accordance wlth the provlsions 8ppllcable to companies subject to the small companies, regime. These financial stalements were approved by the board of trustees and authorised for issue on 24 April 2025, and are signed on behalf of the board by.. AHay Trustee The notes on pages 19 to 32 form part of these financial ststements. 17
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Statement of Cash Flows Year ended 31 August 2024 2024 2023 Cash flows from oparatlng activities Net expenditure (103.284) .:(235,403) Adjustments lor.. Depreciation of tangible fixed assets Dividends. interest and rents from investments Other interest receivable and similar income Accrued expensesl(Income) 3.743 (42,541) (2,228) 3,900 36.429 (41.361) (3.130) (1.208) Changes in.. '. Stocks Trade and other debtors 'Trade and other creditors 1,597 83 19,273 6,858, 30,739 47,560 (88.801) (190,172) Cash generated from operations Interest received 2,228 (86.573) (187,042) 3,130 .Net cash used in operating activitles Cash flows from investing actlvltles Dividends. interest and rents from investments Purchase of tangible assets Net cash from investing activitles 42.541 (3,993) 38,548 41.361 (5.552) 35,809 Cash flows from financing activilles Proceeds from loans from group undertakings Net cash from finanGlng activitles 15,194 15.194 N•t dacr•as• In cash and cash equlvalents Cash and cash equivalents at beglnnlng of year Cash and cash equlvalents at end of year (32,831) {151.233) 99.411 250,644 66,580 99.411 The notes on pages 19 to 32 fomi part of the$¢ financial stalements. 18
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2024 General Informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is St Paul's Church, Portland Square, Bristol, BS2 8SJ. ststernent of compllance These financial statemenls have been prepared in compliance with FRS 102. 'The Financial Reporting Slandard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Cornpanies Act 2006. Accountlng pollcl•s 8asl8 of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concer The charity relies for the large part upon student numbers and funding attached thereto which are not always reliable or guaranteed. The charity actively pursues such funding and uses staff to assist in attracting such funds. The charity has made projections of expected funds likely to be received within twelve months of the signing date of these accounts but at this time cannot predict that sufficient income will be available. In the short term, the charity has secured a four year community investment loan and the trustees are Satisfied that all necessary actions are being taken and that sufficient funds will become available. Therefore these financial statements have been produced on the going concern principle. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and a based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the process of preparing these financial statements management has not been required to make significant judgements in relation to the accounting policies. Fund accountlng Unreslricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes: restricted income funds or endowment funds. 19
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2024 Accountlng pollcles {contlnu•d) Income All income is included in the statement of financial activities when entitlement has passed to the charily, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Income from donations or grants Is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. income from contracts for the supply of ServIS is recognised with the delivery of the contracted serrfice. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricted. Expendlture 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 statement ol financial activities to which it relates.. expenditure on fundraising includes the costs of all fundraising activities, events. non-charitable trading aGtivities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to fundraising for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned betreen the activities they conlribute to on a reasonable, justifiable and consistent basis. Operatlng leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a slraight-line basis. Tangible assets Tangible assets are Inltially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 20
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (ntInU•d? Year ended 31 August 2024 Accounting pollcles Icontinued) Dèpreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic lrfe of that asset as follows: Long leasehold property Plant and machinery Over the term of the lease 250/0 reducing balance Investments Unlisted equity investments. are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment, Listed investments are measured at falr value with changes in fair value being recognised in income or expenditure. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment propety is revalued to its fair value at each reporting date and any changes in fair value ar8 recognised in income or expenditure. If a reliable measure of fair value is no longer available for an item of investment propety, It shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impalrm•nt of flxed assets A review for indicators of impairment is carried out at each reporting dale, with the recoverable amount being estimated 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 at each reporting date. For the purposes of impairment testing, when It Is not posslble to estimate the recoverab18 amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generaling unit is the smallest identifiable group of assets that includes the asset and generates cash Inflows that largely independent of the cash inflows from other assets or groups of assets. Stocks Stocks are measured at the lower of cosl and,estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and conditi¢)n. 21
Academy for Contemporary Clrcus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2024 Accountlng pollcles (¢ontlnuod) Flnanclal Instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are Initially recognised at the amount receivable or payable including any related Iransaction costs, unless the arrangement constitutes a financing transaction. where it is recognised at the present value of the future payrnents discounted at a market rate of interesl for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash'or. other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Llmlt•d by guarantee The company is limiled by guarantee, in the event of the company being wound up members are required to contribute an amount not exceeding £1. Donatlons and legaclos Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations 21.334 21,334 Grants Arts Council - NPO BCC - Openness Funding The Nisbet Trust Leche Trust Garrick Charitable Trust Quartet Community Foundation Triodos Foundation 108.513 38,900 10,000 4,000 4.000 108.513 38,900 10,000 4,000 4.000 4.882 1.500 4.882 1.500 188,247 4.882 193.129 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations 8,395 8.395 22
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 Donatlons and legacies (Mntlnued) Unrestricted Funds Restricted Total Funds Funds 2023 Grants Arts Council - NPO BCC - Openness Funding The Nisbet Trust Leche Trust Garrick Charltable Trust Quartet Community Foundation Triodos Foundation 117.555 25.783 117,555 25,783 151.733 151,733 Charltabl• actlvltles Unrestricted Total F.unds Unrestricted Tolal Funds . Funds 2024 Funds 2023 Formal Education Informal Education Other Income 573,154 308,717 4,802 573,154 308.717 4,802 593,604 271,854 16.793 593,604 271,854 16,793 886,673 886,673 882,251 882,251 Other trading activltles Unrestricted Toial Funds Unrestricted Totsi Funds Funds 2024 Funds 2023 Sponsorships Fundraising events Merchandise Sales Facilities Hire Professional & Circomedla Performances 500 14,335 7.245 65,480 500 14,335 7.245 65,480 5.435 89.663 5,435 89,663 50.598 50,598 38,767 38,767 138.158 138,158 133,865 133,865 Investment Income Unrestricted Total Funds Unrestrided Totsl Funds Funds 2024 Funds 2023 Income from group undertakings Bank Interest 42,541 2,228 42.541 2,228 41.361 3.130 44.491 41,361 3,130 44,491 44,769 44,769 23
Academy for Contemporary Circus and Physlcal Theatre Company Limited by Guarantee Notes to the Financial Statements (contlnu•dJ Year ended 31 August 2024 Expondlture on charltable actlvltles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Formal Education Educational Recreational St Paul's Church Community and Workshops (engagement) Leasehold replacement Support costs 434.912 212,149 57.335 42.811 3.583 438,495 212,149 57,335 42,811 615.223 615,223 1.362,430 3,583 1,366,013 Unrestricted Funds Restrlcted Total Funds Funds 2023 Formal Education Educational Recreational St Paul's Church Community and Workshops (engagement) Leasehold replacement Support C05ts 471,591 198,616 43,233 12,340 471.591 198.616 43.233 12,340 33,196 688,767 33,196 688,767 1,414,547 33,196 1,447,743 10. Expendlture on charltsble actlvltles by actlvlty typ• Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Formal Education Educational Recreational St Paul's Church Community and Workshops (engagement) Leasehold replacement Governance costs 438,495 212,149 57,335 351,910 169,885 48.539 790.405 382,034 105.874 914,623 382,644 84,128 42,811 36,408 79,219 25,972 33,196 7,180 8.481 8.481 750,790 615,223 1.366,013 1,447,743
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 11. Analysls of costs Direct costs for the current year are classffied as follows; Community St Pauls and Church & workshops buildings {engagem't) Education Education (formal) (Informal) Academy expenditure Activity expenditure Office overheads 317,839 212.149 16,915 40,420 42,811 120,656 438.495 212,149 57,335 42,811 Direct costs for the prior year are classified as follows; Communlty St Pauls and Church & workshops buildings {engagem't) Education Education (formal) (Informal) Academy expenditure Activity expenditure Office overheads Depreciation 343.712 198.616 7.226 36,007 33,196 76,429 12,340 127,879 471,591 198,616 12,340 Support costs for Ihe current year are classified as follows; Community St Pauls and Church & workshops buildings (ersgagem't) Education Educatlon (formal) (Informal) Activlty expendlture IT and Communications General Equipment and Maintenance Training, welfare & recrultment Adminstration costs Office overheads General salaries Miscellaneous & merchandising Professional fees Depreciation 5.831 8.824 5,173 5,475 23,561 64.448 232.839 3.588 7.486 2.171 2.815 4.259 2.497 2,643 11,374 31,112 112,405 1,732 664 1,048 170,549 804 1,217 714 755 3,250 8,889 32.116 500 190 299 604 912 536 568 2,437 6,667 24.088 371 143 225 359.396 48,734 36,551 Support costs for the prior year are classified as follows: 25
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (continufjd) Year ended 3.1 August 2024 Community St Pauls and Church & workshops buildings (engagem't) Education Education (formal) (Informal) Activity expenditure IT and Communications General Equipment and Maintenance Training, welfare & recruitment Adminstration costs Office overheads General salaries Miscellaneous & merchandising Professional fees Depreciation 38.679 11,468 11.094 27,303 13,413 70,391 264,999 3.584 4.667 2,101 16,067 4.763 4.608 11,341 5,571 29,239 110.077 1.489 1.939 873 3.570 1.058 1.024 2,520 1.238 6,498 24,462 331 431 194 1.190 353 341 840 413 2,166 8.154 110 144 65 447,699 185.967 41.326 13,776 12. Net expendltur• Net expendrture is stated after chargingl(crediling): 2024 2023 Depreciation of tangible fixed assets 3,743 36.429 ' 13. Audltors remuneratlon 2024 2023 Fees payable for the audit of the financial slatements 5.000 4,725 26
Academy for Contemporary Circus and Physical Theatre Company Llmlted by Guarantee Notes to the Financial Statements (¢ontlnu¢d) Year ended 31 August 2024 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Gross wages Pension contributions Social security costs 852,248 18.012 49.594 836,305 13.465 56.020 919.854 905,790 No employee received employee benefits of more than £60,000 during the year (2022: Nil). The total remuneration for the key management personnel was £155,487 {2023.' £123,837) The average head count of employees during the year was 66 (2023.. 66). The average head count during the year is analysed as follows.. 2024 2023 Chief Executive Artistic and Educational Director Technical, Front of House and Teachlng Staff Administration 58 60 66 68 15. Trustee remuneratlon and •xpons•8 No Trustees or other person related to the Charity received remuneration or other benefits from employmeni or in connection with the charity or a related entity. One Trustee was reimbursed travel expenses of £172 {2023: £486) during the year. 27
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements {¢ontlnued) Year ended 31 August 2024 16. Tangible fixed assets Long leasehold property Plant and machinery Total Cost At 1 September 2023 Additions 564,556 191,OS7 3,993 195.050 755,613 3.993 At 31 August 2024 Depreclatlon At 1 September 2023 Charge for the year At 31 August 2024 Carrylng amount At 31 August 2024 At 31 August 2023 564.556 759.606 564,556 177.909 3,743 T42.465 3,743 564,556 181,652 746,208 13.398 13,398 13.148 13,148 Propety improvements funding has been provided to convert St Paul's Church in.8ristol City Centre into a building suitable for circus-theatre training and performances. This has involved Installing a dance floor, state of the art full-scale flying trapeze rig and additional changing and showering facilities. The major funders have placed restrictions on the funding in that assets cannot be disposed of without prior permission and notification must be given of any change in use of the building. 28
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to Ihe Financial Statements (ntInued) Year ended 31 August 2024 17. Investments The charity is the sole member of Circomedia Enterprises Ltd. a company limlted by guarantee. The performance of the 1 OOYO owned trading subsidiary for the years ended 31 August is set out below: 2024 2023 Income Bar takings 68.576 62.209 Cost of Sales Purchases Other costs (18,632) (674) 49,270 (19,445) (659) 42,105 Gross Profit Administration Expenses Adminstration Expenses Donation to parent charity (6,729) (42,541) (744) (41,361) Net Profit The net reserves of Circomedia Enterprises Ltd at the year end were £nil (2023: £nil). The subsidiary is immaterial in terms of the performance of the group, so advantage has been taken of this exemption from the requirement to prepare consolidated group accounts, the overall deficit presented in the group accounts would be £88,870, the same as that for the charity. 18. Stocks 2024 2023 Raw materials and consumables 2,587 4,184 19. Debtors 2024 2023 Trade debtors Amounts owed by group undertakings Prepayments and accrued income Other debtors 21.588 36,750 2.713 44,565 3,313 16,043 2,473 40.104 87.341 29
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (contlnugdj Year ended 31 August 2024 20, Credltors: arnounts falling due wlthln one year 2024 2023. Trade creditors Amounts owed to group undertakings Accruals and deferred income, Social security and other taxes Other creditors 72.302 15.194 76,200 37,087 10,756 34.191 101,932 41.984 11.563 211,539 189.670 21. Deferred In¢omo 2024 2023 . At 1 September 2023 Amount released to income Amount deferred in year At 31 August 2024 67.504 (67.504) 65.836 28.028 (28,028) 67,504 65.836 67,504 22. Analys15 of charltsble funds Unrestricted funds At 1 September 2023 At 31 August 2 024 Income Expenditure General funds 14,414 1,257,847 (1,362,430) (90,169) At 1 September 2022 At 31 August 20 23 Income Expenditure General funds 216.621 1,212.340 (1,414,547) 14,414 30
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (¢ontlnu8d) Year ended 31 August 2024 22. Analysls of charitable funds (contlnued) Restrlcted funds At 1 September 2023 At 31 August 2 024 Income Expenditure Leasehold property Quartet Foundation 4,882 {3,583) {3.583) 1,299 1.299 4,882 At 1 September 2022 At 31 August 20 23 Income Expenditure Leasehold propety Quartet Foundation 33,196 (33,196) 33,196 {33,196) 23. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Credilors less than 1 year Net Ilabllltles 13,398 107,972 (211.539) (90,169) 13.398 109.271 (211,539) (88.870) 1 ,299 1,299 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net Ilabillties 13,148 190,936 {189,670) 14,414 13,148 190,936 (189.670) 14.414 24. Analysls of chang•s In net debt At At 1 Sep 2023 Cash flows 31 Aug 2024 Cash at bank and in hand 99.411 (32,831) 66.580 31
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 25. Operatlng lease commitments The totsl future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 108,170 208,882 108,170 317.051 317,052 425,221 32