Charlty reglstratlon number 1071443 Company reBlstratSon number 03615141 (Enzland and Wal•s) KIDZ R US COMMUNITY PROJEcr ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
KIDZ R U5 COMMUNrrY PROJEcr LEGAL ANO ADMINISTRATIVE INFORMATION Trustees Mr SJ Hockln8 MsASWard Mr. Joshua Thoma5 Rlchard5 (Appolnted 12 September 20241 Mr. Alexander Lewellyn Williams-Crew(Appolnted l October 20251 Charlty number 1071443 Company number 03615141 Re8lstered offlce St Ives Theat Lower Stennack St Ives Cornw311 England TR26 IQG Independent examlner TC Group Vlvlan House Newham Road Truro Cornwall Unlted Klngdom TRI 20P
KIDZ R US COMMUNITY PROJECT CONTENTS Pale TNstses' Report report Independent examiner's report Statement of flnanclal actlvltles Balance sheet 9-10 Notes to the financlal statements 11-21
KIDZ R US COMMUNITY PROJEcr TRUSTEES. REPORT REPORT (INCWOING OIRECTOR5' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also dlrertors of the charlty for the purposes of the Cornpanles Act 2006, present thelr report wlth the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accountlng and Reporting by Charltie5: Statement of Recommended Practice applicable to charltles preparing thelr accounts in accordance with the Flnanclal Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021 {effertlve l January 2019). ObJectlv•s and artlvltles The Primary object of the charltyls the study and performance of the arts , muslc, drama and dance by young people also the encouragement of public appreclatlon of those arts. The Trustees are granted wide power5 to achleve these objectlves whlch are Set out in the 8overnlng document. Inter alla, these relate to productions. equlpment, buildings, fund-ralslng and appointment of staff. The aimsof Kldz R Us Communlty Project are to.. l. Be a centre of excellence for musical theatre. 2. 8ecome the leading centre of opportunity in Cornwall for youn8 people's creative development throu8h the performln8 arts. 3. Continuously improve the quallty and professionallsm of the organisation. The or8anlsatlon exists to provlde real Jnd appreclable beneflt to the community by developlng skllls and Increaslnl confidence and maturlty Sn young peoplei provldln8 volunteerlng opportunities that are beneficial in the personal development of volunteers as well as the young people; and to provlde year- round entertainment for the resldent and vlsltln8 populatlon of West Cornwall. Followlng a successful appllcatlon and confim)ation of fundlng from The St Ives Town Deal the theatre closed Its doors In January 2024 to allow for the commencement of sl8nificant refurbishment works. In addltlon to our core strate8y of deliverin8 a program of successful shows a great deal of Work was undertaken durln8 the period to ensure the necessary operational and budgetary plans We In place to Inltlate the refurbishment.
KIDZ R US COMMUNITY PROJECT TRUSTEES, REPORT REPORT (INCLUDING OIRECTORS. REPORT) (coKnNUED) FOR THE YEAR ENDED 31 MARCH 2025 Actlvltles The objectives for the year 2024 - 2025 were to consolldate the exlstln8 work of the theatre group and to explore new avenues in fulfilment of the alms of the or8anlsatlon, speclflcally to: l. Consolldate and Increase the opportunitles for young people and adults from all bac*8round5 to partSclpate In the hl8hest quallty performances. 2, Appoint professional dlrertorldlrectors and admln15trator5 to aldldlrertlmana8e our business and three annual sho wlth a vlew to increasln8 the professlonallsm of the productlons. 3. EnBage creatlve profe5slonals and provide members with access to skills and experlence that may not otherwise be available to them. 4. Consolldate our coro actSvltles and to bulld on our reputatlon as a centre of excellence for musical theatre. 5. Oversee and manage the redevelopment of the thealre bulldln8 funded by a grant of £1,477,000 from the St Ives Town Deal 6. Update our technologles lo Improve the quality of performances and customer experlence whlle supporting our 5ustsinability obJectl¥es 7. Traln and develop our people In all areas of theatre productlon and ensure we maintain hlRh levels of safeguardlng for all participants. Strateoes to Achleve thi Year's ObJ•ctlv•s Followln8 a successful appllcatlon and confirmation of funding from The St Ives Town Deal the theatre closed Its doors In January 2024 to allow for the cofflmencement of si8nificant refurbishment works. In addltlon to our core Strategy of deliveiing a piogram of succe55ful shows a Breat deal of work was undertaken durin8 the perlod to ensure the necessary operatlonal and budgetary plan5 were In place to Inltlate the refurb15hm¢nt. Durin8 the PortIng perlod from April 2024 to March 2025. Kldz R Lls continued to deliver hlgh-quallty theatrlcal opportunities for chlldren and youn8 people, despite si8nificJnt dlsruption caused by the renovatlon of our "home" theatre venue. As our theatre was undergoin8 a major renovation proje¢ Kidi R Us adapted by reloGltln8 our maln production for the year, In May 2024, we successfully staged Joseph and the Amazing Technicolour Dreamcoat at the Minack Theatre. This opportunlty allowed our mefflber5 to perform In a professlonal outdoor theatre setting and ensured contlnulty of our performance programme durln8 the closure of our home venue, we found local rehearsal spaces In the community to facilitate thls, whllst enhancln8 thelr skills throu8h the appointment of a professional director, vocal coach and thoreo8rapher. Following the Vlinack Theatre produrtlon. rehearsals began for our next shows. Our younger group started work on The Wizard of Oz, whlle our older sertion be8an rehearsals for Footloose: The Musical. These rehearsals took place in the rehearsal rooms and also off-51te and In altematlve rehearsal spaces while the renovatlon works contlnued. Durin8 the usual Chrlstmas performance period, Kidz R Us wa5 unable to stage a productlon due to the ongolng building works. However, we were pleased to host i Christmas party for our children and volunteers In our on-slte rehearsal rooms. This event provided an important opportunlty to maintaln engagement, celebrate achievements, and recognise the dedication of our volunteers.
KID2 R US COMMUNITY PROJEcr TRU5TEES' REPORT REPORT (INCWDING DIRECTORS, REPORn ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 In early 2025, rehearsals resumed for both The Wlzard of 02 and Footloose: The Musltal. On 28 February 2025, we were offlclally returned the keys to our theatre by the buildlng contractors. This marked the be8innln8 of an intensive four-week perlod of movlng back Into the building, This included the 5ubstantlal task of unloading storage contalnets. relnstatlng technlcal equlpment, and r&installing sound and Ilghtln8 systems onto the stage, includin8 the installatlon of our new professlonal core pro audio sound desk for improved quality of performance, Alongslde our creative programme, regeneratlon wrk Contlnued behlnd the scenes. Trustees and volunteer5 focused on planning the transformatlon of the new café space withln the theatre, Includlng the searth for a $uitable contractor to undertake the café refurbishment. In parallel. work began to Identlfy and recrult a café rnanager to run the space once operatlonal, with the aim of creating a welcoming communlty hub and SU5talnable Income stream for the charity. Flnal rehearsals took place in March 2025 In preparatlon for The Wlzard of Oz, wlth performances scheduled to begln in Aprll 2025. Desplte the challenges presented by the renovation project. Kldz R Us demonstrated resilience and adaptablllty, contlnuln8 to provlde creatlve, educational, and social opportunltles for chlldren and youn8 people while also progresslng long-term regeneratlon plans for the organi5ation. Charlty Alms for 2025•26 l. To succe55fully open and operate our new on.slte café and bar durln8 the summer perlod, maklng it accesslble to the publlc and managed by an appointed Café Mana8er, In order to Increase communlty en8a8ement and 8enerate sustalnable Income for the charity. 2, To appoint a dedlcated Theatre Manager who wlll oversee the effertive day-to-day operatlon of the venue, support visiting companles and Staff, and contribute to the 5trate8iE development of the or8anlsatlon. 3. To expand the rnn8e of tourln8 companles usln8 the venue, enablin8 a broader programme of professlonal performances and events that provlde hl8h-quallty cultural experlences for our members and the wlder comrnunlty. 4. To contlnue delivÈrin8 hl8h-quallty treatlve experlences for our membershlp by worklng wlth profe551onal tutors, whlle also nurturlng and showca5in8 talent from wlthln the local communlty through outreath and collaboratlve opportunitie5. 5. To stren8then Ilnks wlth local schools and communlty projects in order to increase use of the bulldln& broaden acce5$ to the arts for young people. and support growth in both membership and volunteer partlclpatlon.
KIDZ R US COMMUNITY PROJECT TAUSTEES, REpoKf REPORT (INCLUDING DIREcfoRS' REPORn (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Volunteerlnz Kidz R Us Communlty Project Is onty able to functlon effectlvely because of the dedlGition of numefOUS volunteers who 8lve freely of thelr tirne and skills to SUPPOrt the v40rk of the charlty and the youn8 people It exlsts to serve. Thls year, over 100 volunteers have given generously of their time, contrlbutln8 hours of work to the or8anlsatlon. Publlt benefit In plannin8 our arti¥ities for the year, the Trustee5 kept In mlnd the Charfty Commlsslon's Guidance on Public 8enefit. Training for youn8 people throu8h productlons, concerts, classes, and work5hop5 was desi8ned to Improve self-confidence, teamwork, and social skills as well as the d15clpline of learnlng practical sta8ecraft. Also, by en8a8ln8 100 VonteerS. we are creating a communlty whlch offews purpose, compJnlonshlp• teamwork, and support to Indlvlduals Includln& sln8le parents. and those who live alone. Investment Performance Agalnst Objertlves The Trustees may make any kind of investment whlch they could make If they were absolutely entltled to the assets of the charlty. In exerclsinB the power of investment conferred upon them. the Trustees must have regard to: l The sultabllbty to the charlty of Investments of the same kind as any particular investment proposed to be made or retained and of that partlcular Investment as an Investment of that kind. 2 The need for diverslficatlon of Investments of the charity, In so far as appropriate to tho ¢ir¢umstan¢¢s of the charlty. The current pollcy of the Trustees is to keep thelr reserves on short term deposlt and then apply them to the purposes for whlch they are Intended. Athlevements and perfomiJnrA Fln•nclal revlew al The trustees do not believe that any materlal dlfference between the book values and actual values of assets whlch may exlst has any mater131 effect on the ongoing activities of the Trust. b} The detslled results are set out on the attached document and show net income/lexpendlturel for the year ending March 2025 c) The Trustee5 confirm the availability of assets to fulfll the obll8atlons of the charlty wlthout recourse to borrowlng, dl The Trustees thank all the many donors who have supported Kidz R Us Community Project throughout the year, those who made Gfft Ald donatlons. Wlthout funds ralsed In that way. we YUld be able to do conslderably less forthe young people of the area. Reserves Poll¢y All the charity's income has been used in pursuance of its objectlves as set out above. The Trustee5 seek Sufficient cash reserves to fund the ongoing maintenance of Kidz R Us Community Project and fund ongoing productlons for the ensuin8 year to satlsfy the objectlves of the charity, The policy on reseries is reviewed each year. The artual free reserves (that is those funds not tied up in fixed a55ets and restricted funds) on 31st March 2024 amounted to £179,338.
KIDZ R US COMMUNITY PROJECT TRusfÉES' PORT REPORT IINCLUDING DIREcfoRS' RÉPORTI (CONTINUE0} FOR THE YEAR ENDEO 31 MARCH2025 Plan$ for futur• perfoth In 2024-2025 we plan to reopen the theatre followin8 the refurblshment contlnue wlth the core activities of Kidz R Us Communty Prohect of developln8 the ski115 of young performers and creating muslcal performances of the highest quallty. Strurturep 8overnance and management Kidz R Us Communlty Projert 15 a charitable trust and a company Ilmlted by guarantee, not havin8 a share capltal. The charlty Is 8overned by a Memorandum and Artlcles of assoclatlon, reglstered by the Charities Commission on 13th Au8USt 1998 and amended on 26th November 2(K18. The charlty Is governed by a board of Trustees, ppointed by the exlstln8 Trustees on an open*nded tenure. An Annual General Meetlng Is held between February and Aprll every year. There are no 5ubordmate mana8erlal committees. The trustees, who are also the dlrector5 for the purpose of company law, and who served durlng the year and up to the date of sl8nature of the flnjncial 5tstements were: Mr S J Hocklng MsAMSkltt Mr D Strlckland Mrs H J Stubbs MsA5Ward Mr. Joshua Thomas Rlchards Mr. Alexander Lewellyn Wllllams-crew {Reslgned 14 Ortober 2025} {Reslgned 8 December 20251 {Resned l May 20251 (Appolnted 12 September 20241 IAppolnted l October 20251 Recruitment ond oppolntment of trustees Trustees are sought whose expertise and experfence are relevant to the work of the charity and complement the skills of the exlstlng Trustees. The appointment of a Trustee15 made at a Trustees, meeting. Trnstees are glven coples of the Charlty Commlsslon publicatlon. Responslbllltles of Charlty Trustees.. The ¢harity'S governln8 documents, Its accounts, and mlnutes of recent meetlngs". they are then glven a tour of the premises and meet the management team. Orgonisotlonol structure The Trustees formulate policy. Operatlonal control Is managed by the Chalr of the Trustees or an appolnted trusteeltheatre manager. Rl$k Management The Trustees have a5se$5ed the major risks to whlch the charlty Is exposed, In partlcular those relatin8 to Its finances and operations {Inclvding health and safety Issuesl and they are 5atlsfled that 5y5tems ale in place to mitlgate the Tiust's exposure to such rlsks.
KIDZ R U5 COMMUNITY PROJECT TRusfEES' REPORT REPORT IINCWDING DIREcfoRS' REPORT) IcoKfiNUED) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, Report report was approved by the Board of Trustees. Mr S J Hockln8
KIDZ R US COMMUNITY PROJEcr INDEPENDENT EXAMINER'S REPORT TO ThE TRUSTEES OF KIOZ R US COMMUNITY PROJECT I report to the trustees on my examlnatlon of the financial statements of Kldz R Us Community Project (the charity) for the year ended 31 March 2025. RespoMlbllltle$ and b#sls of report As the trustees of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financlal 5tsternents in accordance wlth the requirements of the Companles Act 2006 (the 2006 Havln8 satlstled myself that the financial statements of the charlty are not requlred to be audlted under Part 16 of the 2006 Act and are elSglble for Independent examlnatlon, I report In respect of my examlnatlon of the tharlty's financlal statements carrled out under sectlon 145 of the Charitles Act 2011 (the 2011 Artl. In Carry1 out mv examlnation I have followed all the appllcable Dlrectlons given by the Charlty Commission under sectlon 145{51(bl of the 2011 A¢t. Independent examlnees statement I have completed my examlnatlon. I confim that no matter5 have come to my attentlon in connection with the examinatlon giving me cause to belleve that In any materlal respect: accountin8 records were not kept In respect of the charity as required by secllon 386 of the 2CKI6 Act,. or the ftnancial statements do not accord wlth those records; or the flnanclal statements do not comply wlth the accountln8 requlrements of sectlon 396 of the 2006 Act other than any requlrement that the accounts qlve a true and fair vlew whlch Is not ) matter consldered as part of an Independent examinatlon: or the financlal statements have not been prepared In accordance with the methods and prlnclples of the Statement of Recommended Practice for accountlng and reporting by charltles appllcable to charlties preparlng thelr accounts In accordance wlth the Flnanclal Reportln8 Standard appllcable In the UK and Republlc of Ireland (FRS 102}. I have no ¢oncLYns and have come across no other matters In connectlon with the examinatlon to which attention should be drawn In thls report In order to enable a proper understandin8 of the financlal statements to be reached. TC Group J•mes Pearc• Vivian House Newham Road Truro Cornwall TRI 2DP Vnited Kin8dom 3010112026
KIDZ R US COMMUNITY PROJECT STATEMENT OF ANANCIAL AcrivmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlrted Restrlrt¢d funds funds 2025 2025 Total Unrestrkted Restrfcted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donatlons and legacles Charltable activltles Investments 37,348 38,532 418 30,IJXI 67,348 38,532 418 42,776 152,887 463 42,776 152,887 463 Tot•1 Income 76,298 30,000 106,298 196,126 196,126 Expendfture on: fta151n8 funds Charltable actlvltles 1,650 84,524 1,650 95,889 9,047 280,844 9.047 280,844 11,365 Total •xp•ndlturn 86,174 11,365 97,539 289,891 289,891 N•t Incam•ll•xp•ndltur•) and mov•m•nt In funds {9,876) 18,635 8,759 193,7651 193,765) Re¢onclllatlon of funds: Fund balances at l Aprll 2024 209.376 74,962 284,338 303,141 74,962 378,103 Fund tsalances at 31 March ZOZ5 199,500 93,597 293,097 209,376 74,962 284,338 The ststement of flnancial activities includes all gains and losses recognlsed In the year. All Income and expendlture derlve from contlnulng attivities.
KIDZ R US COMMUNITY PROJECT BALANCE SMEEr ASAT31 MARCH 2025 2025 2024 Notes FIMed assets Tanglble assets Is 20.162 20.466 Current assets Debtors Cash at bank and In hand 16 233,035 52,107 215,743 75,014 285,142 290,757 Credltors: amounts fallln8 due wlthln on• year (12,207) (26,8851 Net CUVMnt assets 272,935 263,872 Total assets less curr•nt Ilabllltles 293,097 284,338 N•t assets •xcludln8 penslon Ilablllty 293,097 284,338 Th• fund$ of th• charlty Restricted income funds Urbre5trict¢d funds 93,597 199,500 74.962 209,376 293,097 284,338 The company Ss entitled to the exemptlon from the audlt requirement contained In section 477 of the CoHnpanles Act 2006, for the year ended 31 March 2025. The directors acknowled8e thelr re5pon51bilitles for complyln8 wlth the requlrements of the Companles Act 2006 with respect to accountlng records and the preparats'on of flnanclal statements. The members have not requlred the company to obtain an audit of its financial statements for the year In question in accordance with sectlon 476. These financlal statements have been prepared in accordance with the provlslons appllcable to companle5 subject to the small companies re8lme.
KIDZ R ils COMMUNITY PROJECT BALANCE SHEET (CONTINUED} ASAT31 MARCH 2025 The flnanclal statements were approved by the trustees on ... .... Mrs Trustee In8 Company re8lStratlon number 0361S141 {En8land and Wales) 10-
KIDZ R US COMMUNITY PROJEcr N¢)TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 tountlne polldes Charlty Inforniatlon Kidz R Us Community Project is a prlvate company Ilmited by guarantee incorporated in England and Wale5. The registered ¢ffite is St Ives Theatre, Lower Stennack. St Ives. Cornwall. TR26 IQG, England. 1.1 Accountlng conventlon The financlal sLitements of the charltable company, which Is a public benefit entlty under FRS 102, hwe been prepared in accordance wlth the Charltles SORP IFRS 1021 'Accounting and Reportlng by Charitle5'. Statement of Recommended Prartlce appllcable to chantles preparing their accounts In accordance wlth the Flnancial Reportin8 Standard appllcèble In the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191,. Financial Reporting Standard 102 'The Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland, and the Companles Art 2006. The financial statements are prepared In sterlln& which is the functional currency ol the charlty. Monetary amounts In these flnanclal ststements are rounded to the nearest £, The financlal ststements have been prepared under the historical cost conventlon. The princlpal accountln8 pollcies adopted are set out below. 1.2 Golng concem At the time of approvin8 the financial statements, the trustee5 have a reasonable expectatlon that the charlty has adequate resources to continue In operatlonal existence for the foreseeable future. Thus the trustees continue to adopt the going concern basls of accountln8 In preparing the financial ststements. 1.3 Charftsble fvnds Unrestrlcted funds are a¥allable for use at the dlscfetlon of the trustees In furtherance of thelr charltable oblectlves. Restrlrted funds are subjert to specific conditlons by donors or grantors a5 to how they may be used. The purposes and uses of the restricted funds afe set out In the note5 to the financial statements. IA In¢ome Income Is reco8nlsed when the charity is le8ally entltled to It after any perfonnance condit•ons have been met, the amounts can be measured rellably, and It Is probable that Income wlll be recelved. 1.5 Expendlture Expenditure is reco8nlsed once there Is a legal or constructive obli8ation to transfer economlc beneflt to a third party, it is probable that a transfer of economic benefits will be requlred In settlement, and the amount of the obligation can be measured rellably. Expendlture 15 classified by artlvlty. The costs of each actlvlty are made up of the total of dlrect costs and shared costs, includlng support costs involved in undertaking each artivity. Direct costs attrlbutable to a slngle activity are allocated directly to that actlvlty. Shared costs which contribute to more than one activlty and support costs whi¢h are not attributable to a slngle actfvity are apportioned between those actNlties on basi5 consistent with the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreciation charges are allocated on the portion of the asset's use. 11
KIDZ R US COMMUNITY PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR ThIE YEAR ENDED 31 MARCH 2tVS Accountlng pollel¢s Icontlnued) 1.6 Tan8lble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuatlon, net of dep(latIon and any impairrnent losses. Depreciation is recognised so as to write off the cost or valuatlon of assets less thelr resldual values over their useful lives on the following ba5e5: Freehold land and buildings Fixtures and ffftings Computews 2% on cost 20% on cost and IO% on cost 20% on cost The 8aln or 1055 Jrlslng on the dlsposJl of an asset is determined as the difference between the sale proceed5 and the carryln8 value of the a55et, and is recognised in the statement of financial activities. 1.7 Impalmi•nt of flxed amets At each reporting end date, the tharity reviews the carrying amounts of Its tangible assets to determlne whether there Is any Indlcatlon that those assets have suffered an impairment10ss. If any suth indicatlon ex15ts, the recoverable amount of the a55et Is e5tlmated In order to detewmine the extent of the impairment loss Ilf any). 1.8 Cash and Cish •qulval•rtJ Cash and cash equlvalents Include cash in hand, deposits held at call with banks, other short-term Ilquld Investments wlth orlglnal maturltie5 of three month$ or less, and bank overdrafts. B)nk overdrafts are shown wlthln borrowln85 In current Ilabllltles. 1.9 Flnandal Instruments The charity has elected to apply the provi51ons of Section 11 'Basi¢ Financial Instrument5, and Sertion 12 'Other Flnanclal Instruments155ues' of FRS 102 to all of Its financlal Instruments. Financial instruments are ¢0&niSed In the charlty's balance sheet when the charlty becomes party to the contra¢tual provisions of the instrument. Flnanclal assets and Ilabllltles are offset, wlth the net amounts presented In the flnanclal statements, when there Is a legally enforceable rlght to set off the reco8nlsed amounts and there is an intention to settle on net basls or to reallse the asset and settle the Ilabllity slmullaneously. Baskfinondal assets Basic financlal a55ets, whlch Include debtor5 and cash and bank balance5, are initially rnea5ured at transactlon prlce Includln8 transactlon costs and are subsequently carrled at amortised cost using the effectlve Interest method unless the arrangement constitutes a financlng transartlon. where the transaction Is measured at the present value of the future recelpts dlscounted at a market rate of Interest. Flnancial assets classified as receivable within one year are not amortised. 12-
KIDZ R U5 COMMUNITY PROJECT NOTES TO THÉ FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢countln8 pollcles (Contlnued) 8aslcllnondal Ilabllltles Baslc financlal liabilities, Includlng credltors are Inltlally recognlsed at transartlon prlce unle55 the arrangement constitutes a financln8 transactSon, where the debt Instrument is measured at the present value of the future payment5 discounted at a market rate of Interest. Flnancial Ilobilities classified as payable wlthln one year are not amortised. Debt Instruments are subsequently carried at amortlsed cost. uslng the effectlve Interest fate method. Trade creditors are obllgatlons to pay for goods or services that have been acqulred In the ordinary course of operations from suppliers. Amounts payable are das5ified as current liabilities if payment Is due within one vear or less. If not, they are presented as non-current liabilities. Trade creditors are recogn15ed Initially at transactlon price and subsequently measured at amortlsed cost using the effective interest meth¢xl. Dere(0gnltlon oAflnvnrlol Ilqbllltles Flnancial liabilities are dereco8nlsed when the charltvs contractual obli8ations expire or are dlscharged cr cancelled, 1.10 Retlrement benefftts Payments to defined contrlbutlon retirement benefit schemes are charged as an expense as they fall due. Cfltlcal account1 estlmJtes and Jud8•m•nts In the applicatlon of the charlty's accounting policies, the trustees are requlied to make judgements, estimates and assumptlons about the carrying amount of assets and liabilities that are not readlly apparent from other sources. The estlmates and assoclated assumptions a based on historlcal experlence and other fartors that are consldered to be relevant. Actual results may differ from these estlmates. The estlmate5 and underfyin8 assumptlons are revlewed on an on8oln8 ba515. Revlslons to accountlng estlmates are recognised in the perlod In whlch the estimate Is revised where the ievislon afferts only that perlod, or In the period of the revlslon and future periods where the revision affects both current and future perlod5. Income from donJtlon5 and l18a¢les Unr•strlct•d R•strlcted funds funds 2025 2025 Total Unrestrfcted Restrl¢tod funds funds 2024 2024 Total 2025 2024 Donations and gifts Grants Membershlp fees 20,392 20.392 30,000 16,956 12,840 10,372 19,564 12,840 10,372 19,564 30,000 16,956 37,348 30,000 67,348 42,776 42,776 13-
KIDZ R US COMMU141TY PROJECT NOTES TO THE FINANCIAL STATEMENTS (COPITINUEDI FOR THE YEAR ENDED 31 MARCH2025 Income from donatlons ?nd108a¢les (Contlnuedl Unrestrl¢ted Re#rfrt funds fund$ 2025 2025 Total Unr•strfrt•d Restrfcted funds funds 2024 2024 Total Z025 2024 Grants re¢elvable for mre artmtles Cornwall Councll Groundwork UK Sackler's Trust Backstage Trntst 9,997 375 9.997 375 20,000 10,000 20,000 iO,OOD 30,000 30,000 10,372 10.372 Income from charftable artlvltles Unrestrlrt•d funds 20ZS Unr•strlct•d funds 2024 Th•atrlal Productlons 8ox Offlce & Pro8rammes Theatre Tax Rellef Premises and Equlpment Hire 25,409 9,851 182 105,618 11,150 1.452 Other incomé 3,090 34,667 38,532 152,887 Income from Investments Unre5trlcted Unr•strlctsd funds fund5 2025 2024 Interest receivable 418 463 14-
KIDZ R US COMMUNITY PROJEcr NOTES TO THE FINANCIAL STATEMENTS {CONTINUEO) FOR THE YEAR ENDED 31 MARCH2025 Expendlture on ralslng funds Unrestrlrted Unrestrfrted funds funds 2025 2024 Fundralsln8 and publlclty Advertlslng Other fundralsln8 costs 1,420 7,627 1,650 1,650 9,047 Expendlture on ¢harftable artlvltles Theatrlcal Thoatrftal PTvdurtlons Produdlons 2025 2024 Dlrert Costs Depreciation and impairment Trustees, Expenses Slorage Costs Costs of performances Workshop and wardrobe 574 556 24 9,744 95.495 1,678 9,000 35,942 3.020 48,536 107,497 Grant fundlng of artlvitleslsee note 91 11,365 Share of support and Irnan¢e costs (seé not• 10) Support Governance 31,443 4,545 168,919 4,428 95,889 280,844 Analysis by fund Vnrestricted funds Restricted funds 84,524 11,365 280,844 95,889 280,844 15-
KIDZ R US COMMUNITY PROJECT NOTES TO THE FINANCIAL sfATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH2025 Dexrlptlon of dwrltsble artl¥ltl•s Theatrlcal Productlons Grnnts payable Theatrftal Produ¢tlons ZO25 Grants to institutions.. St Ives Theatre 11,365 10 Support ¢O¥($ 3llo¢at•d to artlvltles 2025 2024 Staff cosls Depreclatlon Operating lease charges Water Insurance Llght, Heat & Telephone Posta8e, Statlonery & Sundry Marketlng & Advertlslng Repairs, Cleaning & Maintenance Bank Charges Computer Costs Governance c05tS 14.265 16,920 116,918 8,664 1,124 5,827 12,107 3.135 542 365 1,262 2,055 4,428 167 6,312 4,705 1,962 721 1,323 1,988 4,545 35,988 173,347 Analysed between: Theatrical Productions 35,988 173,347 16-
KIDZ R ils COMMUNITY PROJECT NOTE5 TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Net m0ment In funds 2025 2024 The net movement in funds Is stated after char8ln81lcreditln81: Fees payable for the independent examlnatlon of the charlvs flnanclal statements Depreciation of owned tsngible fixed assets L055 on disposal of tan8ible fixed assets Operatln8 lease thar8eS 4.545 574 4,428 556 116,918 8,664 12 Tru$tee$ There were no trustees, remuneratlon or other beneffts for the year ended 31 March 2025 nor for the year ended 31 March 2024. There were £29 pald In tru5tee5 expenses in the year ended 31 March 2512024: £1,726). 13 Employees The average Month number of employees durln8 the year was: 2025 Number 2024 Number Employment mst5 2025 2024 Wages and salaries Other penslon costs 14,060 205 16,686 234 14,265 16,920 There were no employees whose annual rernuneratlon was more than £60,000. 14 Taxatlon The charity is exernpt from taxation on its actlvltles because all Its Income Is applled for charitable purposes. 17-
KIDZ R US COMMUNITY PROJECT NOTES TO THE FINANCIAL sfATEMENT51C014TINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Tanglble fixed assets Frn•hold l•nd and bulld NxIU$•nd To141 Cost At l Aprll 2024 Addltions 24,563 152,935 390 269 177,888 269 At 31 March 2025 24,563 152.935 659 178,157 Depfeclatlon and Impalmient At l Aprll 2024 Depreclatlon char8ed In the year 4,421 491 152,935 65 83 157,421 574 At 31 March 2025 4,912 152.935 148 157,995 Clrrylni amount At 31 March 2025 19,651 sii 20,162 At 31 March 2024 20,141 325 20,466 16 Debtors 2025 2024 Amounts falllTh8 due wlthln one ye•r: Trade debtors Amounts owed by subsldlary undertaklngs Othef debtors Prepayment5 and accrued income 500 189,159 ii,Iso 14,934 182,37S 21,001 29,659 233,035 215,743 17 Loan$ and o%*rdrafts 2025 2024 Bank overdrafts 23,769 Payable within one year 23,769 18-
KIDZ R US COMMUNITY PROJEcr NOTES TO THE FINANCIAL sfATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 202S 18 Credltovs: amounts fallln8 du• wlthln one year 2025 2024 Notes Bank overdrafts Trade creditors Accruals and defefred income 17 23,769 575 2,541 864 11,343 12,207 26,88S 19 Retlrnment benent sthem•s 2025 2024 Defined contrlbutlon sth¢m¢s Charge to profit or loss In respert of deflned contrlbutlon schemes 205 234 The charlty operates a dellned contrlbutlon pension scheme for all quallfylng employees. The assets of the scheme are held separately from those of the charity in an independently admlnlstered fund. 20 Re5trfrt•d funds The restrlrted funds of the charity comprise the unexpended balances of donatlons and grants held on trust sublect to speclfic condltions by donors as to how they may be used. At l Aprfl 2024 Incomln8 Resour¢•i At 31 March expended 202S Backpacker5 Hostel Sackler5 Trust Backstage Trust 74,962 74,962 8,635 10,000 20,C(10 io,wo {11,3651 74962 30,000 111,365) 93,597 Prevlou5 year: At l Aprll 2023 Incoml resource$ Rèsources At 31 March •xponded 2024 8ackpackers Hostel 74,962 74,962 19-
KIDZ R US COMMUNITY PROJECT NOTES TO THE FINANCIAL StATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 MARCM2025 21 Unr•strlct•d lunds The unrestrlcted funds of the tharlty comprlse the unexpended balance$ of donations and 8rants whlch are not subject to specfic condltlons by donors and grantors as to how they may be used. These Indude deslgnated funds which have been set aside out of unrestrlrted fund5 by the tru5tee5 for specific purposes. At l Aprll 2024 Incomlng resources Resources expended Transf•rs At 31 Marth 2025 General Flxed Asset Reserve 188,910 20,466 76,298 185,6001 {5741 {2701 270 179,338 20,162 209,376 76,298 186,174) 199,500 prlouS y•ar: At l Aprll 2023 In¢omln8 r•sourc•5 R•sour¢•$ •xp•nd•d Tran$f•rs At 31 March 2024 General Flxed Asset Reserve 165,591 137,550 196,126 {172.4171 (117,4741 {3901 390 188,910 20,466 303,141 196,126 (289,8911 209,376 21 An•lysls of n•t assets between fund$ Unrestrlrt fundj 2025 R•strlrt•d funds 2025 Total 2015 At 31 March 2025: Tangible assets Current a55ets1(liabllities} 20,162 179,338 20,162 272,935 93,597 199,500 93,597 293,097 -20_
KID2 R US COMMUNITY PROJEcr NOTES TO THE FINANaAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH202S 22 Analysls of net assets between funds (Contlnuedl ilnr•strfrt•d funds 2024 Restrlrted funds 2024 Totsl 2024 At 31 Marth 2024: Tan8ible assets Current assets/lliabilities) 20,466 188.910 20,466 263,872 74,962 209,376 74,962 284,338 23 Rel•t¢d party trnnsartlons Kid2 R Us Communlty Project Incurred costs on behalf of 5t Ives Theatre CIC, and the amount outstandlng on the the intercompafry loan at the perlod end was £182,37512024', £189,1591. 21