Company no. 02539087 Charity no. 1065012 Travelling Light Theatre Company Report and Unaudited Financial Statements 31 March 2025
Travelling Light Theatre Company Reference and Administrative Details For The Year Ended 31 March 2025 Company Number Charity Number Registered Office Trustees Company Secretary Principal Staff Bankers 02539087 1065012 Wellspring Settlement 43 Ducie Road Lawrence Hill Bristol BS5 OAX Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Joanna Cross Toni Glazzard Carlo Hornilla Selina Orrell Mark Richardson Omeyoma Smith lan Stickland Matimba Swana Appointed 16 July 2024 Appointed 6 May 2025 Appointed 6 May 2025 Appointed 6 May 2025 Resigned 4 February 2025 (Chair) Dienka Hines Alison Sully Appointed 16 July 2024 Dienka Hines (CEO) Co-operative Bank 14 Broadmead Bristol BS1 ЗНН Triodos Bank Deanery Road Bristol BS| 5AS Shawbrook Bank Limited Lutea House Warley Hill Business Park Brentwood СМІЗ ЗВЕ Charity Bank Fosse House 182 High Street Tonbridge TN9 |BE
Travelling Light Theatre Company Reference and Administrative Details For The Year Ended 31 March 2025 Independent Examiners Godfrey Wilson Limited Chartered Accountants & Statutory Auditors 5th Floor, Mariner House 62 Prince Street Bristol BSI 4QD 2
Travelling Light Theatre Company Report of the trustees For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Reference and administrative information set out on pages | and 2 form part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities (issued January 2019). Objectives The objectives of the charity as set out in its governance document are to advance education for the public benefit by the promotion of the arts, in particular the art of drama. Mission, Vision and Activities. Travelling Light's mission is to create theatre with and for children and young people, lighting up imaginations and sparking creativity. Our vision is a world where every child's imagination is inspired by theatre. To us this means that children and young people: Experience and share joy with others; • Live in neighbourhoods that are vibrant and creative places; Have creativity at the heart of their development; • Engage with creative storytelling and play; and • Share imaginative experiences that explore their feelings, ideas and place in the world. To achieve this we create theatre with and for children and young people: • In our local community of Barton Hill, Bristol; • In schools and early years settings, supporting the cultural entitlement of hundreds of pupils per year; and • That 'travels light' to where children are, reaching children, young people and families who would not otherwise have the opportunity to experience theatre. Our artistic programme engages thousands of children per year through our award-winning touring shows, creative learning projects in schools and early years settings and after school groups, holiday activities and events in our local community of Barton Hill, Bristol. We aim to embed the following core values throughout our work. • Valuing children and young people: we listen to and champion children's voices and enable them to shape, create and define the work that we make; and The rights of the child: we believe that every child is entitled to opportunities to create, imagine and experience great stories told through theatre. Because of these values we actively aim to reach children, young people and families who wouldn't otherwise be able to access theatre and creative opportunities. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit including the guidance 'public benefit, running a charity' (PB2). 3
Travelling Light Theatre Company Report of the trustees For The Year Ended 3l March 2025 Summary of activities and achievements 2024-25 During the year we provided opportunities to create and imagine for 2,598 children and their grownups. 700 people from Travelling Light's local community enjoyed our Winter Lights event, celebrating joy, light and the warmth of community, with 38l local people helping to create it; 355 children and family members took part in our free holiday activities and community events; 73 children and young people created theatre out of school through our Youth Theatre, 100% said their ideas were valued and listened to; • 21 children and young people with additional needs took part in our Louder Than Words group and summer school for Disabled young people, 100% said they had made new friends; 129 children developed their speaking and listening skills through our Light Up Language project in schools and nurseries; and 939 children and young people took part in drama and creative play activities in their education settings. We employed 41 casual and freelance staff providing an estimated 358 days of paid work for artists, freelancers and assistants. We also engaged 37 volunteers. Bristol City Council's impact survey showed our work had an economic value to the city of £531,986 through our activities and the creation of employment opportunities. New Adventures, Celebrations and Awards 2024-25 was an exciting year for Travelling Light as we began the delivery of our new two-year business plan, built on consultation with children, young people and our communities. Our business plan aims for 2024-26 are: • To co-create our artistic programme with children and young people with collaboration and care; • To reach children and young people who would not otherwise experience theatre or creative opportunities; • To value and champion children as artists in their own right; and To champion theatre and creativity in education settings. Over the year we enjoyed beginning to make these aims a reality, especially exploring new ways to genuinely collaborate with children and young people on the creation of our artistic programme. The following report sets out more detail on how we have begun achieving these aims. In addition to looking forward and embarking on new adventures with our work, we celebrated our 40th birthday and looked back on reaching over 1.25 million children and their grownups through our shows and projects over this time. We were delighted to win a national Fantastic for Families Best Family Arts Activity award for our 2024 tour of our early years show Igloo and our creative holiday activities for local children were shortlisted for an 'Audience Impact and Innovation' award. We also received a High Sheriff's Award for services to our local Barton Hill community. 4
Travelling Light Theatre Company Report of the trustees For The Year Ended 3l March 2025 Winter Lights - celebrating joy and community "It makes you feel great. Today is such a good presentation of UK diversity - everyone joining in as one community." (Audience member) On Sunday 26 January 2025 over 700 local children, young people and their families enjoyed Winter Lights - our community event in Barton Hill celebrating joy, light, creativity and the warmth of community. Winter Lights was created with children, families and local partners in our community. 50 participants from Travelling Light's Youth Theatre worked on creating a new performance piece for the event, and an additional 381 people took part in workshops and activities in the lead up. This included a local 'young producer' who helped plan and coordinate the event, and local youth group members who contributed ideas, as well as schools, early years settings and an intergenerational group who created lanterns for the event and took part in other creative activities. The day featured theatre performances by our Youth Theatre, storytelling, craft activities, a room of joy, a room of play, and a lantern parade that lit up the Urban Park in Barton Hill. People that came to the event were mostly from the local area and overwhelmingly said how Winter Lights brought the community together for something joyful, which was particularly valued when the community felt divided. They valued the free and inclusive activities for local families and 88% of audiences our evaluator spoke to said they didn't normally access arts or culture or only did so through Travelling Light's activities. "I enjoyed playing with new people as well as my friends", "today has been fantastic!", "today has been incredible", "today has been amazing", "today has been wonderful". (feedback from children who attended on the day) "It's a real community event - you can see that by looking around. It's amazing. So many cultures working together. It appeals to everyone." (local school teacher) "It's the best. You see your kids enjoying themselves and there is nothing better than that, feeling part of the community is important and being with friends is good. " (audience member) "It's made me feel really happy. Seeing the kids smiling. No one is seeing race or judgement - all are one big community." (audience member) Thanks to our funders who supported Winter Lights: Arts Council England Project Grants, Bristol City Council, National Lottery Awards for All, Yellow Wood Foundation, Patricia Routledge Foundation, Bristol Family Arts Network, Charcoalblue.
Travelling Light Theatre Company Report of the trustees For The Year Ended 3I March 2025 Holiday and Family Activities in Barton Hill "The Travelling Light and St Luke's sessions give me a feeling of safety and welcome." (local parent) This year 262 people from our local area (including some repeat attendees) took part in our holiday programme. We continued to offer free creative holiday activities in Barton Hill alongside healthy meals for families eligible for free school meals, in partnership with food charity St Luke's Lunch. Activities include storytelling, craft, drama games, trips and picnics. We ran 15 holiday workshops during the Easter and Summer holidays, and May, October and February half terms, These sessions provided a welcoming introduction to drama and Travelling Light's work as well as a space for children and families to come together and enjoy a healthy meal. "It was really amazing, kids love everything in each session. Thanks a lot to St Luke's and Travelling Light for the effort they did. My kids loved it." (local parent) Feedback from families recognises the sessions as inclusive spaces where families and children feel safe and welcomed. Evaluation during the summer showed that parents felt 90% of children were more creative, 91% increased their confidence, 90% had eaten better and the meal had helped financially. In addition to our holiday programme, 93 people enjoyed other events delivered with local partners including our Family Theatre Day delivered in partnership with University of Bristol. Young People's Programme- creativity for children and young people outside school. "I like how all of our ideas are valued and listened to." (Youth Theatre member) 87 children and young people took part in our regular Youth Theatre groups across 117 sessions. Our groups provide a safe space for young people to develop their confidence, creativity and wellbeing. In 2024-25 we ran groups for children and young people aged 6-16 and Louder Than Words, our free group for Disabled children and those with additional needs. The Youth Theatre groups offer a welcoming space for young people to explore their creativity outside school, ensuring access through community partners, bursaries and free places. In 2024-25, 51% of children received bursaries to attend "Mum, I love Travelling Light so much." (I asked him why and he said) "when I have had a bad day at school, I come to Travelling Light and I feel happy again." (Louder Than Words member) From Easter 2024, all our Youth Theatre groups began work on Where the Acorns Grow' - a new theatre show for our Winter Lights community event. The participants devised the show, sharing their ideas anc working with a professional writer to create a story structure. "It was marvellous to see so many different groups and ages interacting beautifully." "It was very inclusive, I noticed how special the actors felt." (Audience members at Winter Lights)
Travelling Light Theatre Company Report of the trustees For The Year Ended 3l March 2025 Working together with our team of facilitators and a professional director, writer and designer, the participants not only created a performance, but also developed their creativity, confidence and friendships. "I have been more confident this year and enjoyed spending time with this group and speaking more loudly." (Louder Than Words member) "I love it - my favourite thing about coming here is being with you all." (Louder Than Words member). In August 2024, 7 young people explored drama, music, storytelling and art during our summer school for Disabled young people in partnership with WECIL - West of England Centre for Inclusive Living. Over the course of four days, one per week, the young people created their own story celebrating the resilience, strength, imagination and creativity that is within all of us. The summer school ended with a sharing for family and friends in our studio. With thanks to our funders who have supported our youth and community programme: Backstage Trust, BBC Children In Need, Bristol City Council, Postcode Local Trust, Joyce Fletcher Charitable Trust, Denman Charitable Trust, D'Oyly Carte Charitable Trust, Morel Trust, John James Bristol Foundation, Burges Salmon Charitable Trust, Holiday Activities Fund, Quartet Community Foundation, National Lottery Awards for All, The Nisbet Trust, The High Sheriff of Bristol and the annual BYCA appeal, Vanguard Self Storage, Travelling Light Friends and campaign donors. Creative Learning Programme in schools and early years "It was inspirational not only for the children, but also the staff. It supported their confidence in allowing themselves to be playful and imaginative." (Head at Little Hayes Nursery) 939 children and young people enjoyed drama and creative play in their schools and early years settings through our Creative Learning programme, with 71 creative sessions supporting their self-expression, confidence and learning. Our Creative Learning programme supports the cultural entitlement of hundreds of children through one-off bespoke workshops, as well as our regular Arts Days and Play in a Week activities with partner schools, which engage whole year groups in drama activities. We also delivered Little Lights, a pilot project which explored creative play and storytelling with two early years settings, leading to our Light Up Language project. "The focus was always on the process, on the journey rather than the destination and this allowed for some great moments of connection as well as lots of laughter and fun." (Head at Little Hayes Nursery) 7
Travelling Light Theatre Company Report of the trustees For The Year Ended 31 March 2025 Light Up Language "I have found the project enlightening, transformational and joyful." (Primary school teacher) We were delighted to launch our new three-year project Light Up Language, supported by Paul Hamlyn Foundation. The project explores how drama techniques can be used to improve children's speaking and listening (oracy) skills, in schools and early years settings, supporting children's development and life chances at the earliest stage. Starting in January 2025, 129 children took part in 43 drama and creative play sessions. Teachers in schools and early years settings told us that the sessions have been of great value, and that the creative child-led activities have supported children to become more confident with their language and self-expression. In primary schools teachers told us: "The quieter children have become more confident in speaking in a group and in front of the class and the louder children have learnt to listen." "There is greater trust, and they are better at explaining their feelings. There is a greater acceptance in the class." And pupils told us: "I am so much more confident... now people say I am very chatty in class." Early years practitioners told us: "It has given me confidence when working with the children in this way...It is very empowering for me and the children." "The children are using their imagination far more." "Everything is brilliant. The inclusion of SEN children has been very good. It is very creative." Thanks to Paul Hamlyn Foundation's Arts Based Learning Fund for supporting this project. Creating new work with children and young peopl "I liked that it was all magical." (Feedback from participant in R&D As part of our new business plan, we spent time in 2024-25 in exploring how to work more deeply with children and young people to create our artistic programme. This started with Winter Lights, where we collaborated with a young producer to help create the event, and working with over 400 children and young people in the lead up, shaping the content of the event based on their ideas. 8
Travelling Light Theatre Company Report of the trustees For The Year Ended 3I March 2025 Following Winter Lights, in February 2025, 9 young people from our Youth Theatre and holiday activities and 7 artists spent 3 days in our studio for research and development (R&D) for a new show for primary age audiences. Using the themes of Where the Acorns Grow (our Youth Theatre show from Winter Lights) as a starting point we asked the young people what they would like to explore further. We played, improvised and discussed how we might create a new touring theatre offer for primary schools that felt innovative, exciting and based on what the young people wanted. This work is now being developed into a new theatre piece The Forest Door for primary school touring in 2025/26. Local children who took part said they enjoyed being in a room with adult artists, having their ideas valued and being treated as artists in their own right. "My fave thing has been the creativity." (participant in R&D) Future plans In 2025-26 we will continue delivering our two-year business plan and trying new approaches, our activities will include: • Development of new work for children and young people. We will continue to develop and pilot The Forest Door a new theatre piece for school touring that is co-created with children and young people. We will also work with children, families and early years settings in our community on research and development (R&D) for a new theatre and creative play offer for early years; • Light Up Language will enter year two of the project with 6 new schools and early years settings across Bristol exploring how theatre and creative play can support speaking and listening in young children; Young People's Programme and Community Programme. We will continue our regular engagement with local children, young people and families and providing safe creative spaces outside school from our studio in Barton Hill, with a focus on community cohesion activities with partners as a legacy of Winter Lights; and • Creative Learning Programme. We will continue our engagement with schools and education settings including developing our university partnerships to share our specialism in Applied Theatre and Theatre for Young Audiences. Staffing Our committed team of core staff have made the programme possible this year. Artistic Director Lizzy Stephens led our artistic programme including overseeing our participatory work and developing our co- creation approach and R&D for new work. Rachel Millett, our Creative Learning Project Manager, returned from maternity leave to lead on our Light Up Language project and Creative Learning programme and Mike Akers took on a new role of Early Years Lead to deliver the early years strand of Light Up Language. Lou Betts, our Youth and Community Producer, continued to lead our youth and community programme, deepening our partnerships and engaging children and young people in our research and development. 9
Travelling Light Theatre Company Report of the trustees For The Year Ended 31 March 2025 Dienka Hines continued to lead the organisation as CEO, with strong administrative, financial, advocacy and marketing support from Marketing and Development Manager Jamie Harber and General Manager Ali Sully. We were also supported by a fantastic team of 78 freelancers, casual staff and volunteers. Financial overview Travelling Light finished 2024-25 with income of £311,225 and expenditure of £328,475 leaving a small deficit of £17,250. This deficit was less than planned due to exceeding fundraising targets during the year. A key aim of this year was to diversify our income in our first financial year without any core funds from Arts Council England (although we left their NPO portfolio on Ist April 2023, we received a transition grant of 7 months of core funding in 2023-24). In 2024-25 funding from Arts Council England made up 9% of income, compared to 39% in the 2023-24 and 42% in 2022-23. Funds from Trusts and Foundations and other grants made up 79%, donations 8% and earned income/bank interest made up 13% of overall income during the year. We were pleased to receive continued unrestricted funding from Bristol City Council and Coutts Foundation, as well as a core funding grant from Garfield Weston Foundation to support our programme. We received project funding from Awards for All, Arts Council England, Paul Hamlyn Foundation, Nisbet Trust, Quartet Community Foundation and other local and national trusts. This made a total of £245,402 in grants received over the year. Our Travelling Light Friends also continued to support our work, providing vital unrestricted funding through regular donations. In addition, we gained £18,79l in one off donations (increased from £11,624 in 2023-24), through our 40th birthday campaign and other events during the year. We are grateful to our funders, donors and supporters for making our work possible, and for the continued support within the challenging fundraising climate and the transition away from reliance on public funding Earned income consisted of fees from schools for our Creative Learning programme as well as fees from Youth Theatre participants, earned income from for staff time, room and van hire. There was no touring activity during the year, and other trading activities brought in less than the previous year due to the challenging climate, this led to an overall reduction in earned income compared to the previous year. We are working hard to develop our education partnerships and traded activities for future years and to look for new partnerships and opportunities for earned income. However, we are aware that due to the charitable nature of our work and focus on children least likely to access arts and theatre, the majority of our income for the current programme will be from grants and philanthropic giving (trusts, foundations and donations). Reserves policy Travelling Light finished the year with a total funds balance of £437, 160, £94,055 of this was restricted funds carried forward to the next year, leaving £343, 105 in unrestricted funds. 10
Travelling Light Theatre Company Report of the trustees For The Year Ended 31 March 2025 Following the loss of regular Arts Council England National Portfolio Organisation funding in 2023 (due to a wish to prioritise Levelling Up areas outside Bristol, despite our application scoring strongly) our trustees set up a Designated Fund for Business Continuity of £140,000, to be spent on delivering our new business plan and supporting our core activity while we diversify income streams and transition to a new business model. We have spent £44,270 of this fund in 2024-25 with £95,730 remaining for future years. Other Designated Funds include carried forward donations from Coutts Foundation and Thresholds (£31,500) and a fund representing the value of our fixed assets (£630). This leaves General Funds of £215,245. The trustees have agreed that £99,62l should be put aside in case of the company needing to wind down, this includes 3 months core running costs, redundancy costs, audit fees and other costs associated with closing the company. This leaves the remaining General Funds of £115,624 to invest in the charity as needed. This includes providing a contingency if income targets are not met over the next two years, especially to ensure continuity of our projects for the most vulnerable young people while alternative funds are sought, taking into account the current difficult fundraising climate. The trustees have also agreed a contingency of £10,000 for employee benefits and staffing needs such as maternity and sickness absence. The trustees are aware that reserves may also be drawn on in response to external risks such as the ongoing impact of the cost-of-living crisis, rising costs and shifts in funder priorities and closures of funds that previously supported our work. Our reserves policy is reviewed by our Board on an annual basis. Governance and Management The organisation is a charitable company limited by guarantee, incorporated on 12 September 1990 and registered as a charity on 24 October 1997. The company was established under a Memorandum of Association which sets out the objectives and powers of the company and is governed by the Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding one pound. The directors of the company are also charity trustees and for the purpose of charity law and throughout this report they are collectively referred to as the trustees. As set out in the articles of association, the number of trustees should not be less than 3 or more than 12. All trustees who have served for three years from the date of their election must retire. A retiring Board member shall be eligible for re-election provided he or she has served for a period of less than six years. A trustee who has served six years must retire at the AGM which takes place at the end of their sixth year in office and will be eligible to stand for re-election to the Board of Trustees after one year.
Travelling Light Theatre Company Report of the trustees For The Year Ended 31 March 2025 New trustees are recruited from open advertising through partners such as Reach Volunteering and local network Up Our Street. This year we also took part in Rising Arts Agency's OnBoard scheme for trustees under 30. The company endeavours to recruit people who have the necessary skills as well as a keen interest in Travelling Light's work and a shared belief in our charitable mission and values. New trustees undergo an induction process that begins before they are co-opted and are offered mentoring and/or training until they have settled on to the board. The Board of Trustees meets 6 times a year, and a Finance Subcommittee also meets prior to board meetings to examine the company finances in detail and make recommendations to the Board. This includes management of financial risk through reviewing progress against fundraising targets and developing new income streams. Staff and board working groups occasionally support specific areas of business development. The company's programme of work is set out in the business plan which is developed by the CEO and staff team in consultation with the Board. This plan ensures that the programme fulfils the company's strategic aims and guides its direction of travel. Decisions about any significant changes to the plan, particularly finances, must be taken to the trustees for approval. The company operates a single headed leadership model with a sole CEO reporting directly to the Board. Organisational risks are reviewed by the trustees on a regular basis and the Finance Committee is also integral to the management of financial risk by scrutinising the financial accounts, fundraising plans and forecasts of the company before they are presented to the full Board. The main categories of our organisational risk register include staffing, programme, financial/fundraising, governance, safeguarding and reputational and these are reviewed on an ongoing basis through Board discussion. Statement of responsibilities of the trustees The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to: select suitable accounting policies and then apply them consistently; • observe the methods and principles in the Charities SORP; make judgements and accounting estimates that are reasonable and prudent; • state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 12
Travelling Light Theatre Company Report of the trustees For The Year Ended 31 March 2025 The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Members of the charity guarantee to contribute an amount not exceeding fl to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2025 was 24. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. Independent examiners Godfrey Wilson Limited were re-appointed as the charitable company's independent examiners during the year and have expressed their willing to continue in that capacity. Approved by the trustees on 21 October 2025 and signed on their behalf by lan Stickland - Chair
Independent examiners' report To the trustees of Travelling Light Theatre Company I report to the trustees on my examination of the accounts of Travelling Light Theatre Company (the charitable company) for the year ended 31 March 2025, which are set out on pages 16 to 35. Responsibilities and basis of report As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 201| Act. Independent examiner's statement Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. Godfrey Wilson Limited also provides consultancy and tax services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC's Revised Ethical Standard 2024, which I have applied with respect to this engagement. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: (1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or (2) the accounts do not accord with those records; or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 14
Independent examiners' report To the trustees of Travelling Light Theatre Company I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be William Guy Blake Date: 21 October 2025 William Guy Blake ACA Member of the ICAEW For and on behalf of: GODFREY WILSON LIMITED Chartered Accountants & Statutory Auditors 5th Floor, Mariner House 62 Prince Street Bristol BSI 4QD
Travelling Light Theatre Company Statement of Financial Activities (Incorporating an Income and Expenditure Account) For The Year Ended 31 March 2025 Restricted Income from: Donations and Legacies Charitable Activities: Productions & R&D Participation & Community Other Trading Activities Investment Income Total Income Expenditure on: Raising Funds Charitable Activities: Productions & R&D Participation & Community Total Expenditure Net Income / (Expenditure) and Net Movement in Funds Reconciliation of Funds Total Funds Brought Forward Total Funds Carried Forward Note 3 4 5 18,530 40,169 137,327 - - - 196,026 Unrestricted € 73,48l 1,072 20,402 12,302 7,942 115,199 - 161,318 - - 161,318 37,908 123,731 5,518 167,157 8 34,708 (51,958) 2025 Total € 92,011 41,241 157,729 12,302 7,942 311,225 37,908 123,731 166,836 328,475 (17,250) 2024 Total 187,357 36,349 108,288 14,672 5,244 351,910 40,201 137,703 170,802 348,706 3,204 59,347 - 94,055 = 395,063 343,105 454,410 437,160 451,206 454,410 All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17 to the accounts. 16
Travelling Light Theatre Company Balance Sheet As at 31 March 2025 2025 2024 Note Fixed Assets Tangible Fixed Assets Current Assets Debtors Current asset investments Cash at Bank and in Hand 630 1,318 13 9,297 40,000 415,435 464,732 (28,202) 27,975 448,104 476,079 (22,987) 453,092 454,410 Creditors: Amounts Due Within 1 Year Net Current Assets Net Assets 436,530 437,160 Funds Restricted Funds Unrestricted Funds: Designated Funds General Funds Total Funds 94,055 127,860 215,245 437,160 59,347 179,818 215,245 454,410 These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime For the year ended 31 March 2025, the charitable company was entitled to the exemption under section 477 of the Companies Act 2006. No notice has been deposited under section 476 in relation to its accounts for the year ended 31 March 2025 and no members have requested an audit. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records complying with section 386; and preparing accounts which give a true and fair view of the state of affairs of the company as at 31 March 2025, and of its profit or loss for the financial year in accordance with sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006. Approved by the trustees on 21 October 2025 and signed on their behalf by lan Stickland - Chair 17
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 3l March 2025 1. Accounting Policies a) General information and basis of preparation Travelling Light Theatre Company is a charitable company limited by guarantee registered in England and Wales. The registered office address is Wellspring Settlement, 43 Ducie Road, Lawrence Hill, Bristol, BS5 OAX. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Travelling Light Theatre Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. b) Going concern basis of accounting The accounts have been prepared on the assumption that the charity is able to continue as a going concern. The charity holds unrestricted, general reserves of £215,245, designated reserves that can be drawn down if necessary of £127,860, and a cash balance of £415,435. The charity has received core funding from Coutts Foundation and Bristol City Council. Coutts Foundation and Bristol City Council funding is ongoing for another 2 years. In light of this, the trustees consider that the charity has sufficient unrestricted reserves and cash flow to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved. For this reason, the accounts have been prepared on the going concern basis. c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of provision of performances or services to be delivered is deferred until criteria for income recognition are met. d) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. 18
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 3l March 2025 1. Accounting Policies (continued) e) Funds accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. 1) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. g) Allocation of support and governance costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity's activities. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support and governance costs are apportioned on the basis of staff time as follows: 2025 2024 23% 39% 38% 22% 43% 35% Raising Funds Productions & R&D Participation & Community h) Tangible fixed assets Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Motor Vehicles Office Equipment 7 years straight line 4 years straight line Items of equipment are capitalised where the purchase price exceeds £1,000. i) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered Prepayments are valued at the amount prepaid net of any trade discounts due. 19
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 3l March 2025 I. Accounting Policies (continued) i) Current asset investments Current asset investments represent cash held on deposit in accounts with a maturity between three months and one year. k) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1) Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. m) Financial instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method. n) Pension costs The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. Pension costs charged in the financial statements represent the contribution payable by the charity during the year. o) Accounting estimates and key judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 20
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 3l March 2025 1. Accounting Policies (continued) o) Accounting estimates and key judgements (continued) The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. Depreciation As described in note Ih to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Depreciation rates in operation during the current and prior period were as follows: Motor Vehicles Office Equipment 7 years straight line 4 years straight line Statement of Financial Activities: Prior Period Comparative Income from: Donations and Legacies Charitable Activities Productions & R&D Participation & Community Other Trading Activities Investment Income Total Income Expenditure on: Raising Funds Charitable Activities Productions & R&D Participation & Community Total Expenditure Net Income / (Expenditure) and Net Movement in Funds Restricted Unrestricted € € 130,829 20,000 84,928 56,528 16,349 23,360 14,672 5,244 116,153 2024 Total € 187,357 36,349 108,288 14,672 5,244 351,910 235,757 - 229,587 229,587 40,20l 137,703 (58,785) 119,119 6,170 (2,966) 40,20l 137,703 170,802 348,706 3,204 21
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 31 March 2025 3. Income from Donations and Legacies Restricted Unrestricted Coutts Foundation General Donations Bristol City Council Total Donations and Legacies - 18,530 18,530 38,500 5,575 29,406 73,48l Included in donations is £1,887 (2024: ENil) of gifts in kind, representing donated room hire. Prior Period Comparative Arts Council Transition Funding Coutts Foundation General Donations Bristol City Council Total Donations and Legacies Restricted Unrestricted € € 120,000 10,829 130,829 - 38,500 4,428 13,600 56,528 22 2025 Total 38,500 24,105 29,406 92,011 2024 Total 120,000 38,500 15,257 13,600 187,357
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 3l March 2025 4. Income from Charitable Activities Restricted Unrestricted Productions & R&D: Grants: Arts Council Project Grant National Lottery Other grants < £5,000 Royalties Total Productions & R&D Income 29,000 6,669 4,500 40,169 1.072 1,072 Participation & Community: Workshop and Performance Fees Paul Hamlyn Foundation Garfield Weston The Nisbet Trust National Lottery: Awards for All Bristol City Council: Holiday Activities Fund Other grants < €5,000 Total Participation & Community Income Restricted Unrestricted € € 64300 20,000 15,000 13,312 8,02l 16,694 137,327 20,402 : - - - 20,402 23 2025 Total € 29,000 6,669 4,500 1,072 41,241 2025 Total € 20,402 64,300 20,000 15,000 13,312 8,02l 16,694 157,729
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 31 March 2025 4. Income from Charitable Activities: Prior Period Comparative Restricted Unrestricted Productions & R&D: Grants: Arts Council Project Grant Other grants < €5,000 Performance Fees & Sales Theatre Tax Credit Royalties Total Productions & R&D Income 18,000 2,000 20,000 : 3,450 11,773 1,126 16,349 Participation & Community: Workshop and Performance Fees Postcode Local Trust The Nisbet Trust Backstage Trust Children in Need Bristol City Council: Holiday Activities Fund Other grants < £5,000 Total Participation & Community Income Restricted Unrestricted € 19,984 15,000 15,000 9,989 8,692 16,263 84,928 23,360 - - - 23,360 24 2024 Total 18,000 2,000 3,450 11,773 1,126 36,349 2024 Total € 23,360 19,984 15,000 15,000 9,989 8,692 16,263 108,288
Travelling Light Theatre Company Notes to The Financial Statements For The Year Ended 31 March 2025 5. Income from Other Trading Activities 2025 2024 Van Hire Room Hire Sundry Total Other Trading Income 5,029 3,576 3,697 12,302 All income from other trading activities in the current and prior year was unrestricted. 8,744 5,568 360 14,672 6. Government Grants The charitable company receives government grants comprising Openness funding made by the local authority and funding from Arts Council England. The total value of these grants is shown below. There were no unfulfilled conditions or contingencies attaching to these grants in the current or prior year. Restricted Unrestricted 2025 Total Arts Council Project Grant Bristol City Council: Openness Bristol City Council: Holiday Activities Fund Bristol City Council: Louder than Words Total Government Grants 29,000 8,02l 691 37,712 29,406 - 29,406 29,000 29,406 8,02l 691 67,118 Prior Period Comparative 2024 Total Arts Council Transition Fund Arts Council Project Grant Bristol City Council: Openness Bristol City Council: Holiday Activities Fund Bristol City Council: Louder than Words Total Government Grants Restricted Unrestricted 120,000 18,000 - 8,692 716 147,408 € - - 13,600 - 13,600 120,000 18,000 13,600 8,692 716 161,008 25
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 7. Total Expenditure Raising Funds 22,144 Staff Costs (Note 9) Touring & Production Costs Rent, Rates, Heat & Light Telephone, Postage & Stationery Repairs & Maintenance Accountancy Professional Fees Training & Recruitment Affiliations & Subscriptions Marketing Insurance Hospitality Computer Software & Support Travel & Subsistence Depreciation Irrecoverable VAT Organisation fees Subtotal Reallocation of support and governance costs Total Expenditure Total governance costs in the year were £2,704 (2024: £3,428). 22,144 15,764 37,908 26 Productions & R&D 79,65l 3,284 6,661 1,122 153 2,924 360 147 408 721 654 96,085 27,646 123,731 Participation & Community 122,956 1,591 5,268 1,979 249 249 350 550 251 667 1,140 704 4,100 140,054 26,782 166,836 Support & Governance 14,609 (66) 20,691 4,041 3,250 3,572 633 1,262 1,352 4,256 1,153 1,137 2,531 5,163 688 2,620 3,300 70,192 (70,192) 2025 Total 239,360 4,809 32,620 7,142 3,652 3.572 633 1,511 1,352 7.530 2,063 1,535 3,606 7,024 688 3,978 7,400 328,475 328,475
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 7. Total Expenditure: Prior Period Comparative Staff Costs (Note 9) Touring & Production Costs Rent, Rates, Heat & Light Telephone, Postage & Stationery Repairs & Maintenance Accountancy Professional Fees Training & Recruitment Affiliations & Subscriptions Marketing Insurance Hospitality Computer Software & Support Travel & Subsistence Depreciation Irrecoverable VAT Subtotal Reallocation of support and governance costs Total Expenditure Raising Funds 21,673 21,673 18,528 40,201 27 Productions & R&D 82,277 4,493 3,875 577 84 417 5,271 184 308 362 3,278 101,126 36,577 137,703 Participation & Community 121,073 1,229 5,013 1,133 135 1,578 8,706 179 430 755 842 141,073 29,729 170,802 Support & Governance 30,786 366 20,191 5,513 700 3,914 5,320 2,509 1,181 1,283 1,758 2,214 2,630 2,511 688 3,270 84,834 (84,834) 2024 Total 255,809 6,088 29.079 7,223 919 3,914 5,320 4,504 1,181 15,260 2,121 2,952 3,747 6,631 688 3,270 348,706 348,706
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 3l March 2025 8. Net Movement in Funds This is stated after charging: 2025 2024 Depreciation Operating Lease Payments Trustees' Reimbursed Expenses Trustees' Remuneration Independent Examiners' Remuneration (Excluding VAT): • Independent Examination • Accountancy Services 688 654 16 Nil 2,400 1,169 688 654 Nil Nil 2,250 1,664 9. Staff Costs and Numbers Salaries and Wages Social Security Costs Pension Costs Freelance Fees 2025 € 186,898 7,722 8,113 36,627 239,360 2024 196,838 7,998 8,942 42,031 255,809 No employee earned more than £60,000 during the year (2024: Nil). The key management personnel of the charity are considered to be the trustees and the CEO. The total employee benefits for the key management personnel during the year were £47,036 (2024: £44,653). The average head count for the year was 15.3 (2024: 15.4). Average number of employees (full-time equivalent) 2025 No. 5.1 2024 No. 5.5 28
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 10. Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. I1. Tangible Fixed Assets Equipment Motor Vehicles Cost At 1 April 2024 and 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024 23,548 30,285 Total € 53,833 22,230 688 22,918 30,285 - 30,285 630 1,318 - 52,515 688 53,203 630 1,318 12. Debtors Trade Debtors Prepayments Other Debtors 2025 € 4,035 4,433 829 9,297 2024 11,488 3,667 12,820 27,975 29
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 13. Current Asset Investments Cash Held in Short Term Deposit Accounts 2025 € 40,000 2024 14. Creditors: Amounts Due Within 1 Year 2025 2024 Trade Creditors Other Creditors Accruals Other Taxation & Social Security VAT Deferred Income (Note 15) 4,304 1,224 11,974 3,363 1,428 5,909 28,202 2,921 916 11,432 2,278 2,123 3.317 22,987 15. Deferred Income 2025 2024 At 1 April 2024 Deferred Income during the year Released during the year At 31 March 2025 3,317 5,909 (3,317) 5,909 1,350 3,317 (1,350) 3,317 Deferred income relates to performances or services invoiced before the year end, but to be delivered in a later period. 30
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 3l March 2025 16. Analysis of Net Assets Between Funds Restricted Funds Tangible Fixed Assets Current Assets Current Liabilities Net Assets at 31 March 2025 94,055 - 94,055 Prior Period Comparative Restricted Funds € 59,347 Tangible Fixed Assets Current Assets Current Liabilities Net Assets at 30 March 2024 - = 59,347 Designated Funds 630 127,230 127,860 Designated Funds € 1,318 178,500 179,818 General Funds € 243447 (28,202) 215,245 General Funds € 238,232 (22,987) 215,245 Total Funds 630 464,732 (28,202) 437,160 Total Funds € 1,318 476,079 (22,987) 454,410
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 17. Movements in Funds At 1 April 2024 Restricted Funds Paul Hamlyn Foundation Garfield Weston The Nisbet Trust Bristol City Council: Holiday Activities Fund Arts Council England: Project Grant Postcode Local Trust Backstage Trust National Lottery: Louder Than Words National Lottery: Winter Lights 40th Fundraising Campaign Grants and donations < £5,000 Total Restricted Funds Unrestricted Funds Designated Funds: Business Continuity Fund Coutts Foundation Threshold Donation Fixed Assets Fund Total Designated Funds General Funds Total Unrestricted Funds Total Funds 10,000 1,264 14,950 15,000 18,133 59,347 Income Expenditure 64,300 20,000 15,000 8,02l 29,000 13,312 6,669 14,48l 25,243 (25,348) (5,000) (22,500) (7,455) (29,000) (14,950) (15,000) (6,669) (35,396) 196,026 (161,318) 140,000 30,000 8,500 1,318 179,818 215,245 395,063 454,410 38.500 38,500 74,812 113.312 309,338 (38,500) (7,000) (688) (46,188) (119,082) (165,270) (326,588) 32 Transfers Between Funds : : - (44,270) - (44,270) 44,270 At 31 March 2025 38,952 15,000 2,500 1,830 13,312 14,481 7,980 94,055 25,730 30,000 1,500 630 127,860 215,245 343,105 437,160
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 17. Movements in Funds: Prior Period Comparative At I April 2023 € 30,986 7,500 3,524 2,875 2,735 1,752 Income Expenditure Restricted Funds Paul Hamlyn Foundation Garfield Weston The Nisbet Trust Big Give Christmas Campaign Children in Need Bristol City Council: Holiday Activities Fund Arts Council England: Transition Fund Arts Council England: Project Grant Postcode Local Trust Backstage Trust Grants and donations < £5,000 Total Restricted Funds Unrestricted Funds Designated Funds: Business Continuity Fund Coutts Foundation Threshold Donation Fixed Assets Fund Total Designated Funds General Funds Total Unrestricted Funds Total Funds 3,805 53,177 97 - 15,000 7,670 9,989 8,692 120,000 18,000 19,984 15,000 21,325 235,757 € (31,083) (7,500) (8,524) (10,545) (9,555) (9,180) (120,000) (18,000) (5,034) (10,166) (229,587) 140,000 30,000 20,000 2,006 192,006 206,023 398,029 451,206 38,500 (38,500) (688) (39,188) (79.931) 1119.119 (348,706) 33 Transfers Between Funds : ... : (11,500) (11.500 At 31 March 2024 € 3.169 1,264 14,950 15,000 14,964 59,347 140,000 30,000 8,500 1,318 179,818 215,245 395.063 454,410
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 17. Movements in Funds: Purposes of Restricted Funds Paul Hamlyn Foundation A grant to support the Light Up Language programme, Arts Based Learning Fund. Garfield Weston A grant to support our programme in Bristol. The Nisbet Trust A grant to support community activities in Barton Hill Bristol. Bristol City Council: Holiday Activities Fund A grant to support school holiday activities in Barton Hill Bristol during 2024. Arts Council England: Project Grant Project grant to support Igloo, our touring production to community venues and early years settings, January - February 2024 and a grant to support Winter Lights, our community arts event in January 2025. Postcode Local Trust A grant to support delivery of our community activities including 6-9s youth theatre group. A grant to support delivery of our youth theatre programme. A grant to support the Louder Than Words programme for disabled children. Backstage Trust National Lottery: Louder Than Words National Lottery: Winter Lights 40th Fundraising Campaign A grant to support Winter Lights, our community arts event January 2025. Grants and donations < €5,000 Donations received for our 40th birthday celebrations, to support our work in Bristol. A range of small grants and donations under £5,000 to support the Louder Than Words programme for disabled children, the Winter Lights community arts event in January 2025, half-term activity programmes from May 2024 to February 2025 (via Quartet), a summer drama school for disabled young people (in partnership with WECIL), and our intergenerational project in Autumn 2024 (in partnership with the Wellspring Settlement. 34
Travelling Light Theatre Company Notes to the Financial Statements For The Year Ended 31 March 2025 17. Movements in Funds: Purposes of Designated Funds Business Continuity Fund Fund set up to support Travelling Light's core charitable work and business development in 2023-26 while the company transitions from being core funded by Arts Council England to a new business model. Coutts Foundation Unrestricted income over 3 years from the Coutts Foundation for charitable activities. Threshold Donation Unrestricted donation from Thresholds for charitable activities. Fixed Assets Fund This fund represents the net book value of fixed assets. 18. Operating Lease Rentals The charity had operating leases at the year end with total future minimum lease payments as follows: 2025 2024 Amount falling due: Within 1 year Within 1 - 5 years 654 490 1,144 654 1,143 1,797 19. Related Party Transactions During the year, four trustees donated £263 in total to the charity during the year (2024: £444). There were no other related party transactions in the current or prior year. 35