COMPANY REGISTRATION NUMBER: 2928738 CHARITY REGISTRATION NUMBER.. 1056852 Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Financial Statements 31 August 2025 CHARLTON BAKER BRISTOL LTD Chartered accountants & slatulory 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 2025 The trustees. who are also the director5 lor the purposes ol ¢offlpany law. present their report and the financial stalements of the charity for the year ended 31 ALKJUSt 2025. Reference and admlnlstrative details Registered charity name Acayemy lor Contemporary Circus and Physical Theatre Charity registration numbèr 1056852 Company registration number 2928738 Principal office and registered Sl Paul's Church office Portland Souare Bristol BS2 8SJ The trustees AHay C Williams L Tanner M Booih M Jone5 N Stephenson M N Panay S Wilson-Evans (Resigned 19 December 20241 IResigned 1 March 20251 (Appointed 19 December 20241 (Appointed 30 January 20251 (Resigned 29 March 20251 Auditor Charftorl Baker (Brisloll Lld Chartere(1 accounlanls & slalutory auditor 61 Macrae Road. Ham Gieen. Bnslol BS20 ODD Bankers Unily Trusl Bank 4 Brindley Place Birmingham 81 2J8
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Iconlinuedj Year ended 31 August 2025 Objectives and activitie$ The Trustees a pleased lo presenl their annual direclorfs report and Ihe aLxYited consolidated financial statements lor the year ended 31 August 2025 which a also prepared lo meel the requirements foi a direclots. report and accounls for Companies Acl purposes. The financial slatemenls comply wlh Ihe Charities Acl 2011. Ihe Companies Acl 2006, the Memoranduffl and Articles of Association. anfj Accounting arKI Reportsng by Charnlies.. Slalemen¢ ol Recornmended Practice applicable lo charities preparing Ihar accounts in accordance wth the Financial Reporting Standard applicable In the UK and Republic ol Ireland effective from 1 January 2019. How our adivitses deliver public benefit The Trusiees have had regard 10 the guidance on public benefit. How our activities deliver public benelil. Our Chanlable Objects are.. lal the promotion ol vocalional tiainiryJ in circus skills and physical theatre Ibl the promotion of educalton arKI Iraining in the CalIVe and artistic application of cirfjus skills and physical theat in artistic performance Icl the advancement of Ihe arts through production aThJ performance, w¢lh a parlicular locus on conlempordry circus arKI physical theatre Strateglc report The following section5 forachievements, perfonnance and financial review form the 51rategic Teport of the charity.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guaranlee Trustees, Annual Report Ilncorporating the Directorfs Report) (continued) Year ended 31 August 2025 A¢hievements and performance Mission.. To provide lirsl class training in contemporary circu5 arKI physical theatre Vbsion: To Iransform the vray we creale. perfomi and eXperiee circus Valves.. Ambitious, Collaborative. Creative CEO Introduction The team at Circomedia have worked lirelessly Ihrough Ihis year to deliver incredible. Impaclful circus and perfomiar¢e experiences to students aged 3 upvrdrds. The financial context has been very challenging but our end of year oultum shows a cOntind financial Improvemenl and Ihe number of students has IneaSed. enablirrfj us 10 widen our reach and irnpact in Ihe crealive industries and in our local communilies. Equity. equality. diversity and inclusion Is very importanl lo everyone al Ctrcomedia and we recognise Ihal we have some areas of strengths and others ol weakness thal we need to work on. To this end our 2025 Social Impacl Teport was incredibly useful as a benchmark. 11 showed how participating in our circus programmes ha5 3 posilive impaci ol increasing c()nlidence and Illness. decreasing anxiety and enhancing social cohesion. It noted that a third of our youth circus participants had medical flags and 160/0 of our students are the firsl in their family to go lo university. It a150 presenled a plan to Increase representation across diiferenl communities. This Is Ihe firsl lime Ihat we have caplure(I Ihis kind of impacl data aryj we shall be building on it in the next lew years. Al the charity's core is Ihe are the artlorms of circus and physscal theatre and Ihe quality and range ol art that has been perfomed through the year gives teslimony lo the importance of Ihe Circomedia emphasis on crealivily and perfomance Ihroughout our wodd class circus training. Education and Training By any measure this academic year was a greal success for Circomedia. From Seplember 24 we inilidted a Iiew sysleni willi He<ids ol Departnieni IHODI working across Ihe Academy Ironi 8TEC to BA covering Acrobatics. Aerial. Jugglirvj. Movemenl and Physical Theatre lo allow greater cohesion and opportunity throughout Circomedia. The majority ol the HODS were already In place as part ol the FDAIBA but we also recruited an exciting new Head ol Aerial in Nicky Pearson wth the experience ol Iwo major Cirque De De Soleil Worfd Toufs. Our sludent numbers are steadily increasing across our programmes. Pertormance experience aThJ industry links are central tenets ol our Iraining. We rdn a successful gala by cuThenl Circomedia sludents which gave them a chance to work across years. We continued our close relalionship wth Cirque 8ijou providing sludenls with woik experience al Camp Beslival and Harbourside Festival. We began a partnership wlh the pStIgIOuS Anyslage which presenls audition ar paid inlemship opportunities ar a module expenence dunng the FOA_ Wè recèived éxcèplionally Strong responses from ihe National Student SuNey INSSI ." 100°/. lor "Teaching on my course" was an obvious highlight and very rare bul 5 of the other 6 calegones saw us achievin9 over 80.10. This highlights other consislenl aa5 of strength for us which include academic and welfare support. opportunities arky links to the induslry and clear assessmenl and feedback. Thi5 Is well above the expecled nalion31 avetage score. "Compared to similar performing arts CoSes1151llUL1Os. the opportunities lor sludents a In¢dIble. The programme is clearfy Iramed wlh industry in mind. and this is evident in the performances I observed. Sludents demonslrale employability skills such as creativily and adaptability. Graduale attributes are embedded and eviderKed in studenl )rt(_ Overall. the programme enables students lo
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (¢Olllinued} Year ended 31 August 2025 develop both technical performance ability and wicSer professional skills for progresston." Examiner. Summer 2025. External Examples ol testimonials from Graduales of 2025 aÈ- "I have gained conneclions thrOh Circomedia that have shaped my life as a professional. I have been hired by people I met though being a studenl arKJ I belong lo 3 broad network of alumni who all support each other in lilIng )rk_ - Ruby "Circomedia destgn5 Iheir course in a way Ihat exposes you lo all the possibilities available lo circus art15ts in Ihe CITCUS induslry. They have modules Cfealed to allo%v you lo leam aboul these industnes and create work that tailors to Ihem In a supporiive enviror4)wiÈ.- Emily Alumni We slay in louch wth alumni and offef them artist support and dèvelopfflenl. mentonw. space and perfomiance opportunilies_ We presenl opporlunilies to Sha their worfK with the public and In 24125 this included commissioning a wnler show 1th funding from Garrick Chanlable Trust and Leche Trust support and running Voll. a show ol works in progress, %there new Ideas can be lesled wilh audiences. These two initiatives al0 saw an aLsdience ol over 1000 people eroage with and feed into the piocess ol Ihe development of contemporary circus arn1 perfom)ance Performances Professional perfomiances continued lo be an important part ol oui programme in the church and Ihere were 57 performances 01 27 different shows rnrKJiThJ from PTofessional shows to works in progress as part of our artisl development support. student and ational class shows. 01 nole was the introduction ol more children'5 shows in recognilion of the large number ol children and families who attend the classes and camps. Ticket prices were kept as low as possible to enable accessibility 1£20 or underl an(5 concessions are always oflored. Engagement and Particlpation Thi5 programme saw a 36% grovAh in irKome frvm the previous year. We expanded our Youth Circus Programme to meet tho continued demand lor classes. aThY the ongoing development of the Iraining we ofler. These additional sessions Included our first class lor sludenls aged 16 21 years old. with a focus on crealing palhways into our further a$ higher educational courses and high level recreation trainiro. The inclusion ol these new classes into our programme brings our total w*kly Youlh Circus sessions to 21. with an additional 8 se5sior15 providing Youth Training through lamily wothshops & skil spocific classes. Throughout the academic year of 2024-25 we ran 1(5 weekly Youlh aasse5, Wth an addilional 4 weeks ol half lerm ho16day circus skills clubs_ "Iour daughter) loves the camps... the lulors are feally welcoming. lun and kfiDedgeable. There is a brOj range ol aciivilies offered. wlh diffenng skill levels for all abilities. Well done Circomedi31- Summer Feedback Survey The experience of pertomiance is important lo our progrnmme and this year saw us another successful Youth Qrcus Showcase wth a 7% incfease in sludenl participation. 16 classe5 ran full dress rehearsals & perfomiances across 7 days at our theatre venue ¥wJlched by 1159 people. 'Wow what an experierte you provide lor our young ppIe. Totally blown away. The children absolutely loved the perfomiance experience. their smiles said il all. 11 was truly heart wamiing lo Iness the pos4tiv8 energy arbd fjompassion all of the staff gave lo our young people during the
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report} (Gontinued) Year ended 31 August 2025 perfomiance.. . Post Showcase Parent Survey In Novernber we ran our fIt YC 5tafl shoKase. Thi5 evenl Wds a volunlary perforTnance from our devoted teaching team lo bolh help fundraise lor our YoLTrth Programme. arld lo provide an opportunily for students and families lo see Ihejr teachers perlorrn. ¥thile providing an alloidable night ol family enlertainmenl. We aim lo be as inclusive as possible and to Ihis end ¥%t accessed funding through Bnstol Cily Council lo support 3 young people wth specilsc needs lor 1."1 support in our weekly sessions. These sILKlenls. while w01n9 wlh their support worker. were able (o lully engage in all aspects ol the sessions, including the showcase. In addition to Ihis. awaneSS an(J Iraining around working with students who present as neurodivergenl has Incsed. leading to an overall more welcoming and supportive environment for all. Fundraising and paylng li forward en3bled us lo continue to oller bursaries to classes and camps lo ensu Ihat every child can participate. "My son is aulislic. this is somelhlng we never Ihoughl we'd experience as panIs. It has moved us and also shown my son whal he Is capable ol given the nghl support and environment" Post Showcase Parenl Survey Our Adult Class programme continues lo be 3 popular Option lor cÈrcus enthusiasts and hobbyists in Bristol. In the yeai 24-25 we ran 720 weekly adult classes across our 2 siles wth approximately 4041 altendances Ihroughout the year. In addition. we ran our annual adult classes showcase wlh 19 participants from our weekly sessions. perfomiing routines they had tted within Iheir classes. Community participation nJns throughoul yew as part ol our commitment to enabling a5 many people as possible to expefience Ihe joy ol leamI circus skills. We delivered over 60 exlemal workshops. with a split in w partnerships and retuming clienls. One of our most successful partnerships has been wlh the West Healthy Living Cenlrc, whcre we have been delivering circus skills to citizens over 65 as part of an NHS funded iniliativo lo promote healthy living and improved fflental & & physical health. The programme that has noiv entered il's 2nd year ol running has lealured on both 88C Points West INOV 241 and ffv (March 251. We also ran a Youlh Cifcus progi3mme for Sident lamilies ol BS5 Ispeedwelll. which has been recognised as an are3 ol depnvalion in Brislol. The sessions We a collaboration between the Meadowvale Community Cenlre. and funding by the Quartol Community Foundation. The sessions ran lor 12 weeks with approximalely 40 children bang given access lo free alter school cifcu5 classes. The classes were leature(J on BCFM Radio. wth represenlalives from both oiganisalions getting Its talk aboul the importance ol making sure activities for children are accessible and aflordable. When asked what 3 words besl described the classes 'Fun. Fnendly. & Engaging, were the top entries Youth Circus Feedback SuNey. "I would like lo take Ihis opportunity lo say TFiANK YOU! As sialed, il is unusual lor my 50n lo maintain allendance al clubs lel alone make Ihe decision Io go back lor another sel of sessions he generally avoids them al all costs.- Feedback Sutvey In addition lo these. we also delivered multiple perforrnances and W0$hopS at large scale. public events InCILing the Bristol Harbour Feslival. Bnstol Zoo Pioject. Mshed & Bnslol Museum & Art Gallery (As part ol a collaboration th Brislol 2417 for Inlemalional Women's Dayl. and 'Sumrner Daze.. an outdoor. community engagement project. in collaboration wlh Super Culture from Weston Super Mare. These. plus continued exciting and positive relalion5hips wilh charities. grassroots organisations. and schools around Bristol such as Communily ol Puoose. 1625 Independent People. & Kingswood Town Council have meant il has been one of our most successful years lo dale.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Iconlinuvdl Year ended 31 August 2025 Events and Corporatr Hires The Events Team has achieved a number of significanl milestones this year. It delivered 19 bespoke events. New and diverse collaborations were forged. including partnerships wth the Bristol Drugs Project and Sl Pauls Camjval. Our ongoing collaboralion wilh Brislol Pride led lo another sell-out Pride Circus Nighl. celebraled as part ol the annual Bnslol Pride month. Circomedia a150 launched some new music events this year, in partnership th up-and<oming music brand5. Notably a partnership wilh Cuculi Records, received over 100 guests to an inlimaie folk gig wlh tTIU51cians ITOM across the UK. We launched a Ceilidh Programme. a major slep In developing dtslinttive. in-house cullurdl piogramming Ihal encourages participalion and repeal allendance with iradilional dance and music from Irish culture. The was a highly sijccesslul collaboraiion wilh one ol the 13rgesl public choir organisation5. Rock Ch01r. who brought in over 300 sjrvjers from across Ihe UK lo pertomi wlhin our venue, supported by C1rcomedia aerial sludenis. culminating in a remarkable film. In addition. we worked to slrenglhen our ties wlhin the localily including by acqijiring a public telephone box in 2024. converfing this disused rèsource inlo a Community Medical Unil. fitted wlh a defibnllalor and bleed kil. The unit provides essential lile-saviTwJ equipmenl arKI wds made possible wlh the generous support Of Ihe local commttnily and local businesses. Our challenge5 have come from a drop olf ol cofporale parties and commercial hires which has led a drop In income and particularfy In bar income. We are looking lo belter promote weddjngs and musi and olher IncOmeenerati[yj events a5 well as invest in more matheling and considering Oth ways that we can ensu that gfow the irorne again this year. Marketing and Communicalions We saw a 45.54°1o unique open rate in the marketing emails. thich is higher than the global averago 01 32.8'1o reported by Dotdigilal. On FaGebook ¥%e received 10,550 visils lo our page. This is 13.7ty/. lower than the numbw ol visits we received between December 2023 August 2024 Idala is nol available for Sep Dec 2023 which may account lor Ihis decreasel. We also gained 253 new followers Igrossl. which is posilive. bul this irtrease is 51°/0 lower than the increase seen in the previous year. Our Link Clicks on Facebook are up 58. I /D suggesting higher drive lo engage with the content and the calls lo action we in¢luded across our posts. stones and ads. On Instagram we received 12.427 visits lo our page. which is 14.1°/ts highei than Ihe previous year. and gained 1136 new followers Igrossl. Our Link Click5 on Inslagram are up 84. 1 /0. suggesling a Stronger drive to engage Iclick, lap. or swipe the links) th our stories or paid als. Top pertomiing content In lems of reach and engagement on this platform included the Telepmne Box Medical Station Red and ¢he call oul for artists lor our SprirvJ Pop Up programme. suggesling that contenl Ihat locuses on our communitie5 is shared more brolly than show or academyased contenl here. DurirKJ the year we started a fikTok a¢¢owit which is de(licated lo student activity for the purposes ol prolile raising and sludent reCltMent. We have 1071 followers and 5530 likes. up from 299 followers, 1074 likes in November 2024. We see regular cornments Irom your¥J people asking how they can gel involved or saying it be Iheif dream lo study here. We will collect data 11)Is year to assess whether any of Ouf current intake were influenced to join because ol Ihis platform lallhough we do not anticipate evidence of this unlil our 2026127 Intake). (k)ogle Analytics recorded 55k active users across our website over 2024125 wlh 18.7 /0 ol thai Irallic coming Irom our social media activity. We ¥ecognise the limitations ol our website and wll be looking lo creale a new sjle as soon as we can. As of October 2025. we have implemented a new user ioumey using a Speklrix subsite. making mobilè booking and selectirrfJ seats on seatirKJ plans a far smoother ioumey and MOVIrj the previous issues.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continuedl Year ended 31 August 2025 The are 22,117 customer records on our Speklnx Database. Of Ihese. 9542 have given us express permission to use their email addresses lor marketing purposes under GDPR. We will consider working with Spektrix Ihis year lo clean Ihe data of those who have not engaged with us lor a significant period ol lime and have nol given their permissions lo be conlacted. Our main booking group is aged 36 - 45 at 35.2°1ty ol bookers who provided *Je data. Under-18s and 18-25s make up 5.20Jo but it's a difficull age range to track as generally lickels are boughl for them by older adults. A poslcode analysis ol lickel buyets shows Ihal Ihe largesl portion ol our bookers come from BS5117.9°/.I which covers a large area ol the city cènife and easi of the ctty. This percentage has Increased from 13.8°k the previous year. 8S15 where our Kingswood sile is based is presented al 4.5QJLTr and BS2 where our St. Paul's site is based makes up 3.6°A. Going forwards we are going lo consider how lo reward retuming cuslornws as we note Ihat 82.10 of our show booker5 are li1 time attenders noting Ihal some will have duplicate profiles and others wll have attended before wilh Othe booking for them. Investment In December 2024 we were successful In a bid to the Reach Fund which enabled us lo work with 3 consullanls to develop w71h us a new Grts%h Plan arKI Social Impact Plan. This enabled us to apply for social investment funding lo support our grO%h oul ol financial challenges and in June 2025 we secured £IOOk ol investment Irom Big ISS Irwesl lo further our )rk wth children and young people. Fundraising The wular funding sUPPOrt from Arts Council England Iguaranleed lo 2027 wilh possibility of eKtending lo 20281 and Bristol City CourKil Iguaranteed ¢0 20271 have provided much needed niulti year support for our arl and community programmes and Wp lever our other ¢hantable funding support. This kind ol ¢onsislent fundiryJ is inGiedibly imporlant in these uncertain times. Our fundraising focussed on two main themes this year support for core work or youth and community participation this year. We a IrIblY grateful lor Ihe support and faith shown In Circomedia by 2 core funders Ihis year Garfield Weston Foundalion and Nisbol Trust and by the lollouring lurKlers lor our youth work ". Million Dollai Rou1 Table, Kirvjswood Town Council. Donations lomie(J a significant elemenl of our fundraising during the year and we undertook our first crowdfundirKJ campaigns raising £3. 134 lor Youth Circus eqtjipmenl in December Icrowdfunderl and £5.000 lor Youth Circus bursaries in March 18ig Give). A further £3058 was raised in donations on Speklnx %thich InclEJded £9( from the J[gling aub who donale Iheir lees on a regular basts and lor which we're tremeJOuS1Y gratef.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (¢Onlinu8dl Year ended 31 August 2025 Financial review This year we conlir)ued to apply slrict financial managemenl and locussed on increasing fundraising and the oultum 5how5 that we signilicanlly improved the years outtum compared lo the previous year despite new challenges such as the inCSe In Employets. Nl and minimum national wage as well as rises in energy COSts_ Circomedia's reserve policy aims to hold adequale reseNes as follo4.. To provide adequale cash flow lo fund activities To ensure continuity of activilies during periods ol change To enable investment In growth ancj development To enable Circomedia lo lulfil legal obligations should it cease lo operate Whilst the charily has experienced two very financially challenging years, the Trustees believe Ihat il is on a positive trajectory and thai they wll be able lo begin rebuildiro reserves to 2-3 months ol core aclivily (excluding grant funded project activilyl In ihe linancial year 26127. We believe that we havo the plans in place needed to Vrk through Ihis knth a clear d1ClI0n of travel a1 that we need the time and continued support of our Inveslor5 lo make this happen. The Board have continued to work lirdessly. meelir#J monlhly through much of Ihe year and interrogating the company's position and put In place the funds necessary lo stabslise the oiganisalion and grow forwards. They have taken advice from experts aboul processes lo follow and lo enstjre that they a a¢ting responsibly. We are IrKredibly grdteful lo them lor giving so much beliel. l*me and energy to support the luture ol &rcomeiJia. The ftnancial statements have been prepared on a going concem basis. In making thi5 assessment Tiustees have considered our current loiecast expettalions over the next 12 Ionths. alon9side our ongoing conlraclual arrangements wlh our education piovide Balh Spa Univetsily and Cily ol Bristol College as well as our continue{1 support from the Arts Coun¢il. Brislol City Coun¢il. Creative Youth Network and Chuiches Conservation Trust las larKJlordsl and other stakeholders. Plans for future perlods We secured investmenl lo drive grovAh arKJ in¢ase intome across the oalsaI1. particularfy focusing on our programmes lor children and young people. We have invested more in marfieling across our participation and training prografflffles which are our core methods of income generation. The financial growth plan is in place armj there vras a 10 /È increase in pnces arKI volLJme. The slalfing for 25126 was reduced by 13 10 from Its planned level through natural loss wilh a small reslrLJcluring to clarify lines of responsibilily and strengthen the foundalions. The is a continued focus on building fundraising and ¢omfflercial activities around Ihe Social Impact Plan and we are revising our Business Plan loi the period 2025-2028. We shall particularty be looking to slrengthen our development work lo nurture participants and students Iroffl the Global Maiorily arKI broader communilies and celebrate the existing diver511y amoryjsl students and staff and Ihrough this. lo approach our work at Circomedia as a circus business as well as a circus charily. There is a consislenl eye on the financial performance ol Circomedia aTh1 action is taken swltly %then needed. We believe that the s¥vrk that Circomedia bnngs to ils communities offers a unique creaiive. physic&. live experiere and everyone here is engaged lull heartedly to make a positive impact through circus now and into the luluTe.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Truslees. Annual Report {Incorporating the Director's Report) (continued) Year ended 31 August 2025 Structure. governance and management Appointmènt of Trustees Trustees are appointed by Ihe currenl board. following open lUItMent calls. and inviting applicants to respond lo the Boaril recruitmenl pack ts.ob descriplion and person specilicalionl that 15 published on the website and through socbal ffledia. Followng receipt ol applications. existing Iruslees meet and interview prospeclive members and il in agreemenl approve appointments at the nexl board meeting. In addilion lo their slalulory duties. each twstee brings specilic skills. knoedge or experience lo help Ihe board ol Iruslees reach sound decisions. The articles of association specify a minimum ol three Irusteesld¢rectors and no maxtrnum. Ihere are six Iruslees Cently. wlh further recruilmenl planned for Summer 2025. including youlh represenlali0. The slalfirrfJ structure wll be reviewed again in eady sufflmer 202S with 8 view to ensuring Ihal we are achieving best value and improve financial viabslily. This review will be led by the Board and Ihe Senior Management Team with expert advice laken where appropriate. Governing document The organisat¢on is a charitable company limiled by guaranlee incorpofaled on 13 May 1994 and registered as a charity on 16 Jul 1996. The company was established urKler a Memofftndum DI Association which established the objecls and powers of Ihe charilable company and is governed under il's Articles ol Association. These wefe updated and adopted by special resolution passed on 8 Seplember 2014. including Ihe name Aca1emy for Contemporary Circus and Physical Thealre. In the event of the company wound up members are required to contribute an amounl not exceeding £1. Organisation41 Stru¢ture The Academy for Contempordry Circus and Physical Theatre (trading as Circornedial is constituted as a non-prolil making Limited Corrtpany. 11 has operdted as a company limited by guarantee sinco May 1994 and became an educational charily in 1986. A IlIng subsidiary. Q"rcomedia Enlerprise5. wa5 Sel up in 2008 and ils contribulion lo the charily's funds is importanl. The Company's overall strategy is supervised by its Board ol Truslees. Ihe management leam (kèy managemenl personnel) of three is responsible for Ihe day lo day management ol the Charity. Trustees. SPonSibl11t1es statement The tnJslees. who are also direclors lor Ihe purpos&s ol company law. are spOnSible lor prepariro the trustees, report and the linancial slalemenls in e0r(lanCe wlh applicable law and United Kirodom Accounling Slandards ILlnile(l Kiwdom Geneially Accepted Accounling Praclicel. Company law requires the ¢harity lojslees to prepare linancial stalements for each year lch g¢ve a true lair view ol ihe stale of affai of the charilable company and the incorning resource5 and application ol resources. including ihe in¢orne and expendilure. for Ihal peTiOd.
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) IcDlltinued) Year ended 31 August 2025 In preparing these finala1 stalements. the truslees are requtred lo= select suitable accounting policies and tlwi apply them consislenlly", obseNe the methods and piinciples tn the applicable Charilies SORP.. make judgments and accountirKJ estimales Ihal a reasonable and pnJdenl'. stale whether applicable UK Accounling Slandards have been followed. subjecl to any malerial departvres disclosed and explained in Ihe financial slatements.. Ppare Ihe financial staiemenis on the goirvJ conceffl basi5 unless il is inappropriate lo presume that Ihe charity wll conlinue in business. The ttuslees are responsible for keepsng adequate accounting records that are sufficient to show and explain the chanty's transactions and disclose 1th asonable accuracy al any time the financial position ol the charity and enable them to ensure thal Ihe financial slaletnents comply wlh the Companies Acl 2Q06. They are also sponSible loi safeguarding the assets ol the charity and hence for taking feasonable steps fof prevention deleclion of Iraj aThJ other irregularities. Auditor Each of the persons who is a tru51ee at the date ol approval ol Ihis report confi¥rns Ihat". so far as they are aware. there is relevanl audit infomialion of vthich the chanly's auditor is unaware., and they have taken all steps Ihat they oughl to have laken a5 a Iwstee lo make themselves aware ol any relevant audit Infomiation and lo eslablLsh that the charity's auditor Is aware of that information. The trustees. annual report and the strategic report were approved on 18 Decernber 2025 and signe(I on behalf ol the board ol tsLeeS by". AHay Truslee 10
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditorfs Report to the Members of Academy for Contemporary Circus and Physical Theatre Year ended 31 August 2025 Opinlon We have audited the financial statements ol Academy for Contemporary Circus and Phy51cal Thealre Ilhe 'chanly'l for the year ended 31 August 2025 which compfise the stateryienl of financial activities (including IncorNe and expenditure accountl. slalemenl of financial position. slalement Df cash flows and the related noles. including a summary of significant accounting policies. The financial reporting Ifamework Ihal has been applied in their preparalion is applicable law and United Kingdom Accounlir Standards. including FRS 102 The FinancTral Reporting Standard applicable In the UK and Republic of Ireland (United Kingdom G8nÈrally Accepled AccounlirvJ Praclicel. In our opinion the financial slatements.. give a true and lair view of the slate of the chanly's affairs as at 31 August 2025 and ol Ils incoming resources arKI applicalion ol resources. includirrfJ its income and expenditure, for the year Ihen eTh1ed". have been property prepad in aCCordce wlh United Kingdom Generally Accepted Accounting Praclice.. have been prepareil In accordance wlh the requiremenls of Il* Companies Act 2fX)6. Basis for opinion We conducted our audit In accordance with Intemaiional Standar(Is on Auditing IUKI IL8As IUKII and applicable law. Our responsibilities under those slandaS a Itjrthcr descnbed in tho audilorfs resporFsibililies for the audit of the financial stalemenls section ol ouf report. We are independent of the chanly in accordance wlh the elhical requiremenls Ihal are relevant lo our audit ol the financia1 slalemenls in the UK. including the FRC'S Elhical Slandard. aTrJ we have fulfilled our other ethical responsibilitie5 In accordance wth these requirements. We bdieve Ihal the audit evidence we have obtained is suflicierhl and appropnale to provide a basis for our opinion. Conclusions relating to going concern In atbjiling the financial staleffjerkls. we have concluded Ihal the tW5tees' use ol the going concem basis ol accounting in preparalion of Ihe financial slalements is apPpriate. Based on the wotlt we have perfomed. we have nol idenlilied any maierial uncertainties relating to events or condilions that. indivtdually or colleclively. may casl signilicanl doubt on the chanly's ability to continue as a going concem for a period ol al leasl Iwelve monlh5 from when the financial statements are authorised lor issue. Our responsibilities and the responstbililie5 of ihe IsteeS with respect 10 90ir¥J concem are described In the lev3ftL sections ol Ihis report. 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 iconlinuedj Year ended 31 August 2025 Emphasis of matter The charity has made disclosures in the rK>les to these financial stalemenls IAccounting Policies- Going Conceml conceming the closing position of having nel liabilities. The Irustees have reviewed Ihese disclosuS and consider thal it is appropnale for the charity to prepa Ihe financial slaiemen15 on a going concem principle. Your attention is drawn to these disclosures as they Psent an Ltncertainly in Ihe presentalion of Ihese linancial siaiemènls however our opinion is nol modified in th regard. Other infomiation The olher Information comprises the inlomiation included in the annual report. other than the financial statements and our auditor s report thereon. The lyustees afe responsible lor the other informalion. Our opinion on the financial slalemenls does noi covèr the other inlounation and. except to the extent olhethise explicitly slated in our report. we do nol express any form of &5suianc8 conclusion thereon. In connection wth Ouf aLMlit of the financial statements. our spOnsibl111Y is to read the other inlotmation and. In doing so. consider wheiher ihe other inlormalion is ma¢erially inconslstenl wth the financial slaternenls or our kedge obtained in Ihe audit or Olherwse appears lo be Tllaiefially misstated. 11 we identify such material inconsistenctes or apparent malerial misslatemenls. we are r8quired lo determine whether there is a malerial misslatemenl in Ihe financial slalefflenls or a material misslatemenl of the other infOation. K. based on Ihe wod( we have perfomed. we conclude that there is a material missiatemenl of this other infomation. we are reQuid lo report that fact. We have nothirrfJ to report in this regard. Opinions on other mattets prtscribÈd by the Companie5 Acl 2006 In our opinion. f)ase(l on the work urvJertaken in the course of the audil.. the inlomiation given in the trustees. report for Ihe financial year for wm'ch the financial statements are prepared is consistent wth the IinarKial statements.. and the twslees. port has been prepared in accordwe wth applicable legal requirernents. Matters on which we are required to report by exception In the light ol the knowledge an¢J unijerstanding of Ihe charity and its envifOnty)ent obtained in the Course ol thè aiKlit. we have not identified malerial misslalemenls in Ihe InJslees' report. We have Ithing lo report In spect of Ihe lollowing matters in la110n lo which Ihe Companies Act 2006 reqLtires u5 lo port lo you il. in our opinion.. adequate accounting records have not been kept. or retums adequaie lor our audil have not been received from bfanches nol visited by us- or the financial slalemenls are not in agement wth the accountiro ordS and relums.. or certain disclosures of Iruslees. remuneralion specified by law are r1 made; or we have not received all the ir)formalion and explanalions we require for our audit. 12
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditorfs Report to the Members of Academy for Contemporary Circus and Physical Theatre {continued) Year ended 31 August 2025 Responslbllltiès of trustees As explained more fully in the trustees. responsibilities stalevnenl, the truslee5 Iwho are a150 the direclors for the puOSe$ of company lawl are responsible tor the preparation ol the financial sialemenls and lor being satisfied that they give a Irue and fair view. and lor such Inlemal control as the trustees determine is necossary lo enable the prepatalion ol financtal statements that aro freo from rnaterial misslalemenl. whether due lo fraud or eryor. In pparing the linarla1 slalements. Ihe Injstees are spOnSible lor assessing the charity's ability to continue as a going concem. disclosing. as applicable. mailers related lo going toncem and using the going concem basis ol c0nI1ng unless Ihe truslees eilher inlend lo liquidate the charity or to cease operations, or have no realislic allemalive but lo do so. 13
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Independent Auditorfs Report to the Members of Academy for Contemporary Circus and Physical Theatre {¢ofttinuedJ Year ended 31 August 2025 Auditorfs responsibilities for the audit of the financlal statements Our objectives a to obtain 3$onable assurance about whether the financial statements as a whole are free from material misslatemenl. whether due lo IraL*Y or error, and lo issue an avdilor's report that includes our opinion. Reasonable assurance 15 a high level of assurance. bul is not a guarantee thal an audit conducled in accordance 1h ISAS IUKI wll always deteci a malerial missiaiemeni when il exis15. Mis5talements can arise from Id or error and are considered rnalenal If. tndividually or in the aggregate. they could reasonably be expecled lo Inllttence Ihe economic decisions ol user5 laken on the basis of these linancial stalements. Irregularities. including fraud. a inslances ol non-compliance wth laws and regulations. We design procedures in line wth our responsibilities. outlined above. lo delect matenal misslalemenls In respect ol irregularities. including Iraud. The exlent lo %thich our pfocedure5 a capable of delecting irregulanlies. including fraud is detailed below.. Key audit matt•rs=Our as5es5ment of risks of material misslatement Key audit maller5 are those mallers Ihal in our professional iudgemenl were ol most Slgnificance in Ihe audit ol the financial stalefflenls arKI incILe the most signilicanl assessed risks ol malerial misslalement Iwhelher or rK)t due to lrnudl idenlilied by us, including those which had the greatest effecl on the allocation ol sourceS in the audit. and diiecting Ihe efforts ol Ihe engagement team. Th8re ère no key areas identified as Ihe attdtl is low risk wlh normal a(Jdil procedures adequate In all audil area5. We agreed lo report lo the board of Irust any corrected or uncorrected iderhlified misslalemenls. To trdenlily risks of malenal misslalemenl due to fraud we assessed events or conditions Ihat could indicate an incenlive or pressure to commil fraud or provide an opportui)ity to commit fraud. Our risk assessment procedures included.. Enquiring ol the Chief Exe¢ulive and the Trustees and inspection of key papers prov1d lo those charged wth govemance as to high level poli¢ie5 arKI procedures lo pievent ar delecl fraud. Reviewing the minutes of TnJslees' meetiTrJs. We Communicat idenlilied fraud risks thrOugUt the audil team aNI remained alert lo any indications ol fraud throughout the atKlit. As required by auditing slandaTd5. taking into account possible pressures lo meet targels and our overall knowledge ol the conlrol environmenl. we perfomied procedures lo assess the risks ol managemenl override of conlrols. To address the pervasive risk as it related to managemenl override ol conlrols. we reviewed malerial joufnal entries and agre1 Ihese to supporting docurnenlation where appropriate. Identifying and respondlng to risks of material misststement due to non-compliance with laws and regulations We idenlilied areas of laws and regulaiions ihat could reasonably be expecied io have a material èllect on the finan¢ial slalefflents from our general ¢omffleictal and sector experiencè and through discussion wlh the Chief Execulive ar Trustees. Our asse55fflenl ol nsks involved gaining an understanding ol the conlrol environment irKludirvJ the enlily's ptocedures for complyin9 with regulatory requirements. 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 IcoiiiinueLI) Year ended 31 August 2025 We communicated identified laws and regulalions Ihroughout our team and remained alert lo any indications of non-compliance throughout the audit. The polenlial ellecl ol these laws and regulations on the financial stalemenls varies considerdbly.. Firslly.the ¢haiily is subject to laws and re9ulalions tlwt directly affeGI the linancial statements including financial reporting regulalion linclLKling rdaled companies regulation), iaxalion legislation (payroll taxes) and pension legislalion and we assessed Ihe extenl of compliance with these laws and regulalions as part ol our procedures in the audil areas relevanl lo these items. Secondly,the charity 15 svbjecl lo many olher layts and rÈgulalions whère Ihe Gonsequence of non-compliante could have a malerial eflecl on amounls of disclosures in Ihe financial stalemenls. for instance through Ihe imposition of lines or Iitigalion. We Idenlilied the lollowrvJ areas as Ihose mosl likely lo have su¢h as effect-. Health and safety laws. Laws lating to working wilh. and the saleguardirrfj of. young people and vulnerable adulls. Auditing standards Iimil the required audil procedures lo ideniily non-cornpliance with these laws arKJ ulalions lo enquiry ol managemenl and trustees and inspection ol iegulalory and legal correspondence, il any. Therefore. If any breach of operational regulations is not disclosed lo us or evident Irom leVant CorspondenCe. an audit wll no¢ delecl thal breach. Limitations to the ability of the audit to detect fraud or ba¢heS of laws and gulatIOn Obwng to the inherent lin)Ilation ol an audit. the is an unavoidable n5k Ihal we may not have detecl some malerial miss(alemenls in the financial slalements. even I)ugh we have propedy planned and perfomied our audit in COrdanCe with auditing slaThJards. For example. the further removed non- compliance with la arKI regulations is fiom the events and Iransaclions reflected In the financial slatemenls. the less likely the InhentlY limited procedures required by auditing slandards would In ldItiOn, as Wth any audit, there remained a highei risk ol non4ete¢tion ol fraud. as this may involve collusion. forgery. intentional omissions. MISpresentatiOns. or Ihe override of Intemal controls. Our audit procedures are designed to detect matenal misstatement. and therefore we are not sponsible for prevenlirKJ non-compliance or fra arKI cannol be expecled lo detect non-compliance th all laws and regulations. A further descriplion ol our SponSibl1111eS for the audit ol the financial Statements is located on the FRC'S websile al wrn.Irc.org.iJklaudilo(sresponsibilities. This description loms part ol our auditorfs report_ As part of an audit in accordance wih ISAS IUKI. we exercise professional judgmenl and masnlain professional scepticism throughout the audit. We also.. Identify and assess Ihe risks ol maleiial mFsslaiement ol the financial staiemenls. whether due to fraud or error. design and perfom audil procedures responsive lo those nsks. ano obtain audit evidence Ihai Is sufficient and appropnate lo provide a basis for our opinion. The nsk of not etecting a material misstatement resullirKJ Irom IraL#J Is higher Ihan for one resulling from error. as fraud may involve Collusion. forgery. intentional omis5iorhs. misrepresenlalion5. ¢>r the override ol intèmal conlrol. 15
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 2025 Obtain an underslandirwj of inlem81 control relevant lo the audit in order to design audit procedures Ihal are appropale in circumstances. bul nol for Ihe purpose ol expressing an opinion on Ihe elfecliveness ol the IeMaI conirol. Evaluate the appropriateness ol accounting policies used and the reasonableness of accounting eslimales and rdaled disclosures made by the Iwslees. Conclude on the approprialeness of the Iwslees. use of the going concem basis of accounting and. baseil on the audit evidence obtained. whether a malenal uncertainty exists related to events or conditions Ihat may casl significanl doub( on Ihe charily's abilily lo continue a5 8 going concem. 11 we conGlude thai a malerial uncertainly exists. we are required lo draw attention in our auditor s report lo Ihe related disclosures in Ihe financial slalemenls or. Il such disGlosures are inadequate. lo modify our opinion. Our conclusions are based on the audil Èvidencè obtained up to the dèle of our 3udstor s report. However. futu events or conditions may cause the charity lo ceasè lo continue as a going COeM. Evaluate Ihe overall presentatson. structure conlenl of the financial slalemenls. Including the disclosuies. and whether the Itnancial statemenls iepresenl the underfyiro transactions and evenls In a manner that achieves lair piesenlalion. We communicate bmth those Charg wilh governGe regarding. among olher mallers. the planned scope and timing of ihe audit and significant audil firKtirwJs, incliJd4ng any significant deficiencies in intemal control thal bve ideniify duwing our audil. Use of our report Thi5 report Is made solely to the charity's members. as a body. in aGGordanGe th Chapter 3 of Part 16 of the Companies Act 2(. Our audit worf( has been undertaken so that we might slate lo the charity's members those maller5 we are reqLured lo state to them in an audilorfs reporl and for no other purpose. To the fullest extent permilled by law. we do not accepl or assume responsibility lo anyone other than Ihe charity and the chanly's members as a body. lor our audil worf(, lor this report, Of for the opinions we have foNned. Nicol85 Michael FCA (Senior Stalulory Auditor) For and on behalf of Charfton Baker IBnsloll Ltd Chartered accounlanls & slatulory aLKlitor 61 Macrae Road. Ham Green. Bristol 8S20 ODD 18 December 2025 16
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee ststement of Financial Activities (including income and expenditure account} Year ended 31 August 2025 2025 Restncled funds Total funds 2024 Unrestricled funds Total funds Nole Income and endowments Donations and legacies Charilable aclivilies Other trading aclivilies Inveslmenl incomè 254.791 912.783 63.365 83.315 17.948 272,739 912.783 63.365 83.315 193.129 886.673 138.158 44.769 Total incomè 1.314.254 17.948 1.332.202 1.262,729 Expenditu Expenditure on charitable activities 9,10 1.333.521 19.247 1.352,768 1.366,013 To¢al expenditu 1.333.521 19.247 1,352.768 1,366.013 Net expenditure and nèl movèment in fvnds 119.2671 11.299) 120.5661 1103.2841 Reconciliation of funds Total funds brought forward Total funds carried fonvard 190.169) 1.299 188.8701 14.414 {109.4361 1109.4361 188.8701 The statement ol financial activities incIjeS all gains and losse5 recognised in Ihe year. All iome and expenditure derive fTOrn continuing activitie5. The notes on pages 20 to 34 form part tsf these finan¢ial $tatements. 17
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Statement of Financial Position 31 August 2025 202S 2024 Note Fixed assets Tangible fixed assets 16 33.720 13.398 Current assets Stocks Deblo Cash al bank and in har*J 18 19 1.804 67.053 78.054 2.587 40.104 66.580 146.911 109.271 Credltors: amaunts falling due within one year Net Current liabilities 20 1175.0671 1211.5391 128. 1561 1102,2681 Total assets less currènt liabililies 188.8701 Creditgrs.. amounts falling due after more Ihan onè year Net liabilities 21 1115.0001 1109.4361 188.8701 Fvnd5 ofthe charity Re5tncted l(Jnds Unreslricied funds 1.299 190. 1691 1109.4361 Totsl charity fund5 23 1109.4361 188,8701 These financial statements have been prepared in accordance Vth Ihe provisions applicable lo companies subject to the small companie5. regime. These finan¢ial statemenls were approved by Ihe board of tnjstees and aulhorised fof issue on 18 December 2025. and are signed on behall ol the board by.. AHay Trustee The noles on pages 20 10 34 form part of these finatKl statements. 18
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Statement of Cash Flows Year ended 31 August 2025 2025 2024 Cash flows from opèrating activities Nel expendilure 120.5651 1103,2841 Adjustmenls lor. Depreciation of tangible fixed a5soIs Dividends. interest and renls from inveslmenls Other interest receivable aThJ similar income Accwed expenses 9.529 {82.6571 16581 4.284 3.743 142.5411 12.2281 3.900 Changes in.. Slocks Trade and other debtors Trade and other credilors 782 120.6141 156.8971 1166.7%> 1.597 19.273 30.739 Cash generated from operalions 188.8011 Interest received 658 2,228 Nel cash used in operatiro a¢tivilies 1166. 1381 186.5731 Cash flows from investing activities Dividends. Inlerosl and rents Irom inveslments Purchase of langible assels Nel cash from investing activities 82.657 129.8511 52,806 42,541 13,9931 38,548 Cash flows from financing aclivities Proceeds from tsorrowngs Proceeds Irom loans from group undertakiThJs 140.1)00 115.1941 15.194 Nel cash from financing aclivitÈes 124.8( 15.194 Net increasel{decreasèl in cash and cash equi¥alents Cash and cash equlvalents at beginning of ytsar Cash and rAsh equivalents at end of year 11.474 66.580 132.8311 99.411 78,054 66,580 The notes on pages 20 to 34 form part of IhÈs¢ finan¢ial sthtemenls. 19
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2025 General inforniation The charity is a public bwelil enlity and a privale company limited by guarantee. registered in England aThJ Wales arKJ a regislered charity in England ar Wales. The address ol the reglstered offi¢e is St Paul's Church. Portland Square. Bristol. BS2 8SJ. Statement of Compliance Thèse financial slaternenls have be prepared in compliance vAth FRS 102. 'The Financial Reporting Slandard applicable in the UK and Republic of treland,. Ihe Stalemenl of Recommended Practice applicable lo charities prepanng their accounls in accordance wilh Ihe Financial Reporting Standard applicable in Ihe UK and RepLbblic ol IrelaTrJ IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2(X)6. Accounting policies Basis of preparation The financial stalemenls have been prepared on the historical cost basis, as modified by the valuation of certain financial assets and liabililies and inveslmeni properties measured al fair value through income or experxlilure. The financial slalemenls arè prepateil in steding. vthich is Ihe furKlional QUenCY of the Èntity. Going con¢em The ¢harily has nel liabtlities at Ihe end of 31 Augusl 2025. Based on Ihe current projections lor the next 12 months there Mrill be sulficienl incoffle lo cover liabililies as they fall due. The charily is working closely alongside the university lo maximise sludenl numbers for the currenl and future year5 to Pfotcct incomo Icvds. Thcrofore these financial slatemenls have been prodwed on Ihe going concem principle. Judgements and key sources of estimation uncertainty The preparation of the Iinatxial slatemenls reQUiS management lo make judgements, estimates and assumptions that allect the amounts rq)orted. These estimates and judgements are continually reviewed an(J are based on experience and olher factors. including expeclalions of fulure events Ihal are bdieved lo be reasonable uThler Ihe circumstances. In the process of preparing these linancial slalements managemenl has nol been wuired to make significant judgeNenls in relation to the accounting policies. 20
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements l¢onsinUj Year ended 31 August 2025 Accounting poll¢ies Icontinuedj Fund accounting Unrestricted funds a available for use al Ihe discrelion of Ihe tnjstees lo further any of Ihe charity's purposes. Designated funds are unrestricled funds eamiarfted by thè tnJst&s (or particular lulure project or commitmenl. Reslncied funds are sybjecled lo reslriclions on thar expenditure declared by the donor of through the temis ol an appeal. and lall inlo one of Iwo sub-classes.. reslricled income luNls or endo%wnenl funds. Income All income is included in Ihè stalemenl of financial aclivilÉes entitlement has passed to Ihe chanly. il is piobable that the economic benel*ls associaled wlh Ihe transaction Mll flow lo Ihe chanly and the amount can be reliably measured. The lollowng specific policses are applied lo particular calegories ol income.. income from donations orgranls is recognised when Ihere is evidence ol enlitlemenl lo the gift, rece¢pt is probable and its amount can be measured reFiably. income from contracts for the supply of services is recognised th the delivery of the contracted service. This is classified as unrestricted funds unless there 15 a contractual requ1ment lor it to be spenl on a particular purpose and reltsmed Il unspent, in which case il may be arded as restricted. Expenditure Expenditure is recognised on an accrtols basis as a liability is incurred. Expendilufe includes any VAT sch cannot be fLtlly recovered. and is Gla55ilied under headings of the statement of linancial activities to which il relales-. expendilure on fundraising irlUdeS the cosls ol all fundraisiThJ activities, evenls. non-charilable Irading aclivilies. and the sale ol donated goods. Èxpenditure on charitable activities includès aH costs incuffed by a charily in urxlertaking activities that luriher ils charitable aims lor Ihe bellI ol Ils beneficiaries. including those support costs and costs relating to the 9ovemance ol the chaiily apportioned lo charitable aclivilies. other expenditure includés all expenditure Ihal is neither relaled to fundraising lor the charity nor part of Its expenditure on chanlable aclivitse5. All costs are allocated lo expeThJJture categoriès ieflecling the use ol the resource. D1cl cosls allribulable to a single activity are allocated directly to thai activily. Shared cosls are apportioned between the activities they contnbule to on a reasonable. iustiliable and consistent basis. 21
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Ststements I¢¢1•0¢) Year ended 31 August 2025 Accounting policies Icottiinued) Operating leases Lease payments are recognised as an expense over the lease ierm on a straight-line basis. aggregate benefit of lease incentives is recogni5e(l as a reduclion to expense over the lease term, on È slraight-line basis. Tangible assèts Tangible assels afe initially recorded al cosl. a1 subsequently slaLed at cost less any accumulated depreciatlon and impaimenl losses. Any langible assels carried ai revalued amounls are recorded al the fair value al Ihe date of revaualion less any subsequent accumulated depreciation arKI subsequent accumulated impaimient losses. Depre¢ialion Depreciation is ¢alculaled so as to write off the Cost or valuation of an assel. less ils fesid u31 value, over Ihe useful ecornmic life ol that assei as follows". Over Ihe temi ol the lease 25°1 reducing balance Long lea5elK>ld property Plant and machinery Investments Unlisled equity investmenis are Inilially recorded al cost. and subsequently measured at fair value. Ir lair value canrK)I be reliably measured. assets are measured at C051 less impaimienl. Listed inveslmenls are measured at fair value wilh changes in f air value being recognised in incorne of expenditure. Invèslment property InveslTnent property is initbally recorded al cost, which IrK1JeS purchase PTiGe and any d irectly allribulable expendilure. knvestmenl property is revalued lo ils lair value at each Teporiing date and any changes in f air value are recognised in income or expeIllure. 11 a reliable measufe of fairvalue Is no longer available foran item of inveslment property. it sh811 be trdnsferred to tangible asseis and treated as such until il is exp ecied Ihat fair value will be reliably measurdble on an on-going ba51S. Impairnient of fixed assets A rev1ew lor in(Jicalots of Impaimenl is carried out al each reporting date. wlh the recover3bie amounl being estimaied where such indicalors exisl. whe the cafry1ng value exceeds the recoverable amouni. the asset is Impai accordingly. Pnor Impairmenls are also reviewed fo r possible reversal al each reporting dale_ 22
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements iconiintseLIJ Year ended 31 August 2025 Accounting pollcbè$ (continued) Impaimient of fixed assets (¢(¥ntinued) For the purposes ol impaimier)t testiTrJ. when il is not possible lo estimate the woverable amount ol an individual assel. an est4male is made of the recoverable amount of the cash- generating unit to which the asset beloS. The cash¥Jeneralin9 unil is the smallest identifiable group ol assels Ihal includes Ihe asset arKt generates cash inflows Ihal largely independent ol the cash inllows ffom other assels or gft)ups ol assels. Stocks Stocks are measured at the loweT ol cost and eslimated selliTrJ price less costs lo complele and sell. Cost includes all costs of purchase. costs ol conversion and Olher costs incuned in bringing the stock lo its present location condilion. Financlal instruments A financial assei or a linancial liability is recognise(l only when IIE enlily becomes a party to the contractual provisions ol ihe instrumenl. Basic financial in5trumen15 are initially CogniSed al the amounl recavable or payable including any relaled transaction costs. unless arrangement con51ilutes a linancing trnnsaclion. where it Is recogni5ed al the present value of the fulure payments discounted al a markel rate of InteSt for a 51milar debt inslrumenl. Current assets arKI current liabilities are SUbseqLntIY measured at the cash or olher on5ideration expected lo be paid or received and rnt discoLmled. Debt instruments are subsequently Measu al amorfised cosl. Limited by guarantee The ¢ornpany is limiled by guardntee. in the event ol the company being wound up members are requbred to contfibute an amount not exceeding £1. Donatlons and legacies UNeslncled Funds Restricted Total Funds Funds 2025 Donations Donations 10.031 10.031 23
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements {conlinuedl Year ended 31 August 2025 Donations and legacies (¢onlinue¢l) Ihestncted FurKJs Reslricled Total Funds Funds 2025 Grants Arts Council - NPO BCC - Openness FundirKJ Garfidd Weston The Foyle Foundation Big Issue Investment The Nisbel Trust Leche Trust Gartlck Charitable Trusl Quartet Community Foundation Triodos Foundation Social Investment BUS1rSS Kin9swood Town Council Vemet Trump Charitable Twsl 110.260 30.(KX) 110.260 30,000 50,000 25,000 10,000 15,000 25 (MX) 10,IXX) 15,OCK) 13.766 4,180 13.768 4,180 4,500 4.500 254.791 17.948 272.739 Unreslncted FurKIs Re51ricled Total Fund5 Funds 2024 Donations Donations 21.334 21.334 Grants Arts Council - NPO BCC - Openness Funding Garfield Weston The Foyle Foundation Big Issue Investment Ihe Nisbet Twst Leche Trust Gam¢k Charitable Trust Quartet ComffiLtnily Foundation Tnodos Foundation Social Investment Business Kingswood Towv Council Vefnet Trump Charilable TnJ5t 108.513 108,513 38.900 10.000 4.000 4.000 10.000 4.000 4,000 4.882 1.500 4,882 188.247 4.882 193.129 24
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements i¢oniinue¢lJ Year ended 31 August 2025 CharitsblÈ actsvitses Unrestricted Total Funds Unreslncled Total FurKIs Funds 2025 Funds 2024 Formal Education Inform81 Education Other Income 540.795 369.888 2.1C(J 540,795 369,888 2, 100 573.154 308.717 4.802 573.154 308,717 4.802 912.783 912.783 886.673 886.673 Other trading activities Unrestricted fotal Funds Unreslricled Total Funds FuThls 202S Funds 2024 Sponsorships Fundraising evenls Merchandise Sales Facilities Hire Professional & Cir¢omedia Perfomancès 500 14.335 7,245 65,480 500 14.335 7.245 65,480 7.923 4.260 7.923 4,260 51.182 51.182 50.598 50,S98 63.365 63.365 138.158 138.158 Investment income ijnrestncled Total Fund5 Unrestricted Total Funds Fur5 2025 Funds 2024 Income from group undertakings Bank Intest 82.657 658 82.657 658 42,541 2,228 42,541 2.228 83.315 83.315 44,769 44,769 25
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements {continuEdJ Year ended 31 August 2025 Expenditure on charitable activities by fvnd type un$1¢[ed Funds Reslricled Total Funds Funds 2025 Fomial Education Educational Recreational Sl Paul's Church Community and WothslK)ps lengagementi Support costs 388. 170 269.716 93.193 52 052 530.390 1.297 389.467 269.716 93.193 52,052 S48,339 17.950 1.333,521 19.247 1,352,767 Unre51ncled Funds Restncled Tolal Funds FurKIs 2024 Formal Education Educaltonal Recrealional St Paul's Church Communily and Wothstr¥)ps lengagementl Support cosls 434.912 212. 149 57.335 42.811 615.223 438.495 212, 149 57.335 42,811 615,223 1.362.430 1.366.013 10. Expenditure on charitable activities by activity type Aclivities utK*ertaken directly Support Totsl ndS costs 2025 Total f und 2024 Fomal Education Educational Recrealional Sl Paul's Church Communily and Workshops lengagementi Govemance costs 389.467 269.716 93.193 251.026 179.893 65.041 640.493 449.609 158.234 790.405 382,034 105.874 52.052 32,520 1g.859 84.572 19.859 79.219 8,481 804.428 548.339 1.352.767 1.365.013 26
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 August 2025 11. Analysis of cosis Direcl costs lor the current year are classified as follows- Community and workshops lengagem'll St Pauls Church & buildings Education Educali(>n Ilomiall Ilnlomall Academy expènditure Activity expenditurè and Communicaiions General Equipmenl and Maintenance Training. welfare & ¢nji[Ment Adminslration costs Office ove(heads Miscellaneous Merchandise 371.712 12.918 1.135 337 1.492 1.071 627 175 246.093 140 402 402 17.274 1.247 69.749 48,1 106 158 2.998 23.000 4.158 389.467 269.716 93.193 52.052 Direct cosls lor the prior year we classiliwj as follows- Community and workshops lengageni'll Si Pauls Church & buildings Education (fomall Education Ilnlomiall Academy expenditure Activity expenditure Office oVerheS 317.839 212.149 16.915 40.420 42.811 120.656 438,495 212. 149 57.335 42.811 SLtpport costs for the current year are classified as lollows: Community Sl Pauls and Church & workshops buildings lengagem'll Educalion (lormall Eéucalion Ilnfomiall Academy expendilure Aclivily expendilure IT and Communications General Equipmenl and Mainlenance Tiainin9. welfare & recruitment Adminslration costs Office ovetheads General salaries Miscellaneous & merchandisirrfj Professional lees Depreciation 251 1.135 5.622 3.637 3.329 5.088 107.383 128.124 1.265 2.923 4.574 142 702 454 416 637 13.423 16,016 158 365 572 1.406 909 833 1,272 26 846 32.031 317 731 1.143 2.576 2.358 3.604 76 062 ,754 2.071 3.240 27
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements {¢gntinu8d) Year ended 31 August 2025 263.332 186.349 65.772 32.885 Support costs for the prior year are classified as follows.. Community St Pauls and Church & workshops buildings lengagem'(I Education {lomiall Education Ilnlomiall Aclivily expendilure rr and Communications General Equipment and Mainlenance Training, well3 & iecruitmenl Adminslralion costs oirice overheads General salaftes Miscellaneous & merchandisiThJ Professional fees Depie¢iaiion 5.831 8.824 5.173 5.475 23.$61 64.448 232.839 2.815 4,259 2,497 2.643 11.374 31.112 112.405 1.732 804 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 7.486 2.171 1.048 359.398 170.549 48.734 36.551 12. Net expenditure Nel expenditure is slaled after chargiThJllcrfiting}= 2025 2024 Depfeciation ol langible fixed assets 9.529 3.743 13. Auditors remunera¢ion 2025 2024 Fees payable for Ihe audit of Ihe finwcial slalemenls 5.850 5.000 28
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements {conlinuedJ Year ended 31 August 2025 14. Staff costs The lolal staff costs and employee benefils lor the Port1 period are analysed Ès follo= 2025 2024 GTOSS wages Pension conlribution5 Social securily costs 842.373 15.268 61.244 852.248 18.012 49.594 918.885 919,854 employee received employee benelils ol more Ihan £60.LXJO dunng Ihe year12024." None). The total rémunÈraliofi lor Ihè kèy management petsonnel was £152.502 12024.. £155.4871 The average head count ol employees during year was 63 12024.. 661. The average head count during (he yeaf is analysed as follows.. 2025 2024 Chief Exe¢ulive Artistic and Educational DireGtor Technical. Fronl ol House and Teaching Slaff Admin15tration 55 58 63 66 15. Trustee remuneration and expenses Afidance. a business controlled by NOrrn Stephenson a Irustee. was paid £280 lor perfomiances during Ihe year 12024.. £nill. balance oulslanding al the year end was £nil 12024.. £nill. No other Trustees or other pe0 related to tho Chanly reccived mUnerAtion or other benefits from employment or in connection with the chanty or a felated entity. Twt) Trustees ¥vas ¥eimbur5ed lovel expenses of £165 12024.. £172 year. one InJsteel during the 29
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements (¢oniinuedJ Year ended 31 Augusl 2025 16. Tangible fixed assets Lor¥J leasehold property Plant and machinery Total Cost At 1 Septembef 2024 Additions 564.556 195.050 29.851 759,606 29.851 At 31 August 2025 Depreciation At 1 September 2024 Charge for Ihe year At 31 August 2025 564.556 224.901 789,457 564.556 181.652 9.529 746.208 9,529 564.556 191.181 755.737 Carrying amount At 31 August 2025 At 31 Augusl 2024 33.720 33,720 13.398 13.398 Property Improvements funding has been provided to convert St Paul's Church in Bristol City Cenlre into a building suitable lor clrcus-1heat training and performances. This has involved insta111ng a dance floor. state of the art full-scale Ily*ThJ Irape2e rig and additional changing and showeri9 lacililies. The major furKler5 have placed re51riclions on the funding in that as5els cannot be disposed ol wilhoul prior permission and nolilicalion must be given ol any change In use ol the building. 30
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements Icontinu6dJ Year ended 31 August 2025 17. Investrnents The charity F5 the sole member of Circomedia Enterprises Ltd. a company limiled by guarantee. The performance of the 100% trading subsidiary for the years ended 31 August Is set oul belo, 2025 2024 Income Bar takings 120.016 68.576 Cost of Sales Purchases Other costs {30.2201 17181 118.6321 16741 Gross Profil Adminislralion Expenses Adminstralion Expenses Donation to parent charity 89.078 49.270 16.4211 182.6571 16,7291 142.5411 Nel Pfit The net reserves of Circomedia Enlerprises Lld at Ihe year ermj were £nil12024". £nill. The subsidiary 15 immatwial in tems ol Ihe perfomance of the group. so advantage has been taken of Ihis exemption from the requifemenl lo prepare consolidated group accounts. the ovefall delicil presented in the group accounts would be £109.436, the same as that for the charity. 18. Stocks 2025 2024 Raw materials and consuwnables 1,804 2.587 19. Dèbtors 2025 2024 Trade debtors Amounts owed by group undertakbngs Prepayments and accnJed Income Other debtors 6.695 33.576 24.603 2.179 21.588 16.043 2.473 67.053 40,104 31
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements {COlllinutsdl Year ended 31 August 2025 20. Creditors: amounts falling due within one year 2025 2024 Bank loans and overdrafts Trade ciedilors Amounts owed to group undortakings Accruals and deferred income Social securily and other taxes Other credilo 25.OLK) 60,890 72.303 15.194 76.200 37.086 10.756 66,887 12.954 9.336 175.067 211.539 21. Creditors.. amounts falling due after more than one year 2025 2024 Bank loans and overdTalts 115.OCKI 22. Deferred income 2025 2024 Al 1 September 2024 Amount leaSed lo irKome Amounl deferred in yeaf At 31 August 2025 65,836 165,8361 45,904 67.504 167.5041 65,836 45. 65.836 23. Analysis of charitsblè funds Unrestri¢ted funds Al 1 September 2024 31 August 2 025 ome Expetyjiture General funds I.169) 1.314.254 11,333,521) 1109,4361 Al 1 September 2023 Al 31 August 20 24 come Expendilure General funds 14.414 1.257.847 11.362.430 190. 1691 32
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements i¢oniinuedl Year ended 31 August 2025 23. Analysis of charitable funds iconlinuedj Res¢ricted funds Al 1 Seplember 2024 At 31 August 2 025 Income Expenditure Kingswood Town Council Quartet Foundatiorl Social Investment 8usine55 4,180 14.1801 11.2991 113.7681 1.299 13.768 1.299 17.948 119.2471 Al 1 September 2023 Al 31 August 20 24 Income ExpendiluTe Kingswood Town CourKil auartel Foundation Social Inve51ment Business 4.882 13.5831 1,299 4.882 13.5831 1.299 Kingswood Town Council Given as a conlnbulion towards buaries to support local lamilies and 10 90 lowards the pur¢hase ol new equtpment for children. Quartet Foundation Used to support bulsary spaces forclasses 3rKJ workshops for eligible Students from low income backgrounds. Social Investment Business Funding provided to aid the charity In being fit for lUlU inveslment. 33
Academy for Contemporary Circus and Physical Theatre Company Limited by Guarantee Notes to the Financial Statements icofttinued) Year ended 31 August 2025 24. Analysis of net assets between funds UNestftcted FurKIs Restricted Total Funds Funds 2025 Tangible fixed assels Current asset5 Creditors less Ihan l year Credilors greater than 1 year Net liabilities 33.720 146,911 I175.(7) 1115.(X)01 33.720 146.911 1175.0671 1115.0001 1109.4361 1109.4361 Urwestncleil FurKIs Restricled Toial Funds Funds 2024 Tangible fixed assets Currenl assets Credilors less than 1 yea( CTedilor5 grealer than 1 year Net liabilities 13.398 107.972 1213.5391 13.398 109.271 1211.5391 1.299 .169} 1.299 188.8701 25. Analysis of changes in net debt Al At 1 Sep 2024 Cash IIow5 31 Aug 2025 Cash al bank and In harKJ Debt dve wlhin one year Debt due alter one year 11.474 I9.81) 1115.0001 1113,3321 78.054 125.0001 1115.0001 161,9461 115.1941 51.386 26. Operating lease commitments The tolal future minimum lease payments urKler non<ancellable operating leases are as follows". 2025 2024 Not later than 1 year Later Ihan 1 year and nol later Ihan S year5 102.420 106.462 108.170 208.882 8.882 317.052