Reglstered number: 037J2985 (England & Wales) Charlty number. 1089185 BOUNDLESS THEATRE A company limited by guarantee UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AEH7G5JS 1111212025 COMPANIES HOUSE A30
BOUNDLESS THEARE A company Ilmlted by guarantee CONTENTS Page Refgr•n¢e and admlnlstratlve d•talls of the charlty. Its trustees and advlsers Trustees. Annual Report 2-12 Independent Examlnerfs Report 13 Statement ol Flnanclal Actlvltles 14 Balance Sheet 15 Notes to the Flnanclal Statements 16-26
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements for the period 1 April 2024 to 31 March 2025. Since the charty qualffies as small under section 383 of the Companies Ad 2006, the strategic report required of medium and large cornpanies under The Companies Act 2006 (Strategi.c Report and Directorfs Report) Regulations 2013 is not required. REFERENCE AND ADMINISTRATIVE DETAILS Name of the Charlty The company name is Boundless Theatre. Trustees André Renaud, Chair Tom Stickland (resigned on 8 Pecember 2024) Caspar Cech-Lucas (resigned on 8 October 2025) Charlotte Mcmillan Adaeze Aghaji (resigned on 6 May 2025) Deepa Menon Benjamin Quashie Felicity Gush Layla Chowdhury Kirsten Adarn Company rnglstored number .03712985 (England & Wales)" Charlty reglstered number 1089185 R•glstered office Stanley Arts,12 South NoThvood Hill, London, SE25 6AB Company Secretary Phylisia Watkis (resigned on 7 April 2025) Exècutlve Dlre¢tor a Co4hlef Executlve Offlc•r Adele Reeves Creatlve Dlrector & Co-chlef Executlve Officer Pavlos Christodoulou Coro Team Laura Evans, Head of Communlcations & Developnfènt (appoSnted April 1811+ 2025) Rebecca McGreevy., Programme Administrator (left company November 14ib 2025) Beth Drury. Associate Programme Director (appointed 27th January-24th October 2025) Goiga M'llaurie. Social Media Manager (left company April 2024) Advlsory Group (2025-2026) Jacky Carr, Cecilia Wallace. Jaslene Gyimah, Néa Ishana Ranganathan. Emilia Hargreaves, Zakiyyah Deen. Robyn Lexi (Lex) Bankers CAF Bank Limited, PO Box 289, West Malling, Kent, ME19 4TA HSBC, 71 High Street, Deal. Kent, CT14 6EH 1 |Page
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 OBJEcllvES AND ACTIVITIES Misslon Boundless makes space for young people to create, connect: and lead. We work with 1 25 year olds, co-creating projects that put young voices in charge. Whether it's taking part or .. leading the way, we back young people to shape the future of the arts - and beyond. We're rooted in Croydon and support young creatives across the UK. Whether it's a project round the corner or global collabs, we show up with,curiosity. creativity, and trust. Our work is grounded in care, and together wlth young people, we call the worfd to care rnore. because we think that's where real change begins. What we do Our programme is boundless. What started with plays on stages has grown to involve all kinds of creative projects - from podcasts and music to performances on Ihe phone and through the post. You might catch us in the parf( mixing tunes on a random Sunday. but you'll also find us on the frontlines of youth-led change. We've produced intemational festivals, hosted.youth summits, and brought radical ima'gination into schools. We grow big ideas through Accelerator, our artist development programme. and sow the seeds through our wider ecosystem, Boundless Creats've Community. Through our projects. creatives get the chance to meet people, exchange ideas, make stuff together, boost their skllls, flex their curiosity and make noise in th8 industry. Our Compass of Care keeps us accountable.. every project . we do contributes to social and climate justice in ways big and small. If it's not making things better, we're not doing It. Young people are the experts on young people. Our Advisory Group and Young Leadershlp roles drlve the work. keeping us groundeil in listenlng, advocacy and activism. Our Manlfesto Don't rush; build trust. Be curious. Dream radically. Meet people where they are. Joy is resistance. l<nowledge is power, Shake up the system; rebuild it together. More care I care more. Charltable Oblects The principal object of the charity as set out in its Memorandum of Association is to advance the educa'tion of the public (with particular but not exclusive reference to young people) in the dramatlc arts. Publlc Boneflt When planning activities, the Trustees have considered the Charity Commission's guidance on public benefit and fee charging. The charity focuses on access to its work by all members of the public and makes every effort to ensure both artistic and employment opportunities can be accessed by people of all protected characteristics. Throughout all activities it strives to reduce barriers to access, in particular economic barriers to engagement. The principal benefits of the charitys work are to.. .Increase wellbeing through the enjoyment of and participation in relevant and engaging artistlc work Empower teéns and young adults through engaging in participatory and shared activit16S Increase skills of teenagers, young adults and artists, not limited to but including: creative skills. speech and language. confidence and social skills and employability Increase resilience by connecting people through shared activity and dialogue between cultures Improve understsnding of. and dialogue around. relevant issues through our work Contribute to a more equal society through the promotion of equality of opportunity and active engagement with diverse artists and audiences 2 |Page
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Chalfs Introductlon - Boundless Theatre Annual Report 202*25 This year has been a pivotal one for Boundless Theatre. As we look back on 2024-25, we do so with immense pride in the progress we've made. the voices we've championed, and the partnerships wee deepened. Amid continued uncertainty across the arts sector, we've taken meaningful steps to build long-term resilience. unlock new opportunities for young artists and audiences, and shape the future of the organisation through a refreshed leadership model and renewed strategic clanty. At the heart of thls has been the successfiJl appolntment of our new Co-CEOs.' an Executlve Dlrector and a Creative Director now working in tandem to lead the organisation. This co-leadership model, now fifmty established. has bTought fresh energy, insight, and collaboration into every part of Boundless, operations and outlook. It has also enabled greater transparency,. shared accountability, and a stronger, mor8 direct Connection bet4veen the leadership team and the Board of Trustees. We were also pleased to confirn the appointment of our new Head of Communications & Development, who joined the team early in 202&26 to help tdl the Boundless story and build sustainable support for our ambitions. The year also marked the continued success and expansion of our crpative wort<. The 8oundl8ss Box retumed with another season of activity, with participation both in London's Waterfoo. and a powerful new programme in Scarborough. extending our national reach. Our commitment to early-career artists remained central to our misslon as the 2023-24 Acceler8tor cohort culminated in a dynamic showcase of new work, with alumni including Yasmine Dankwah (nominated for the 2025 Bruntwood Prize for Playwriting) and Jade Franks, whose Eat the Rich (But Maybe Not Me Mates x) enjoyed 2025 Fringe success, with a sold-out 2026 run at Soho Theatre secured. We've also continued to take important steps to ernbed youth insight Into our organisational planning. reshaping the Advisory Group ahead of welcoming a new cohort in 2025-26. This new cohort has since been appointed and Is already contributing meanlngfully to our worf(. Equally, we launched Year 2 of our co-leadership prograrnme, applying key learnings to refine our developrnent offer and provide both access to supported autonomous work as well as training and development. With this, the Boundless Drama Club was redeveloped under the leadership of Assoctate Programme Director Beth Drury, now themself recognised as a Clore Emerging Leader, delivering both lasting impact to Boundless. and ensuring that our investment in future leadership goes beyond our own walls. Localty, our work in Croydon has contlnued to evolve as we shape a more robust strategy for communlty engagement by forging new relationships with creatives, young people, and organisations to grow Boundless, impact al a grassroots level, the result5 of whlch wlll begin to emerge in 2025-26. During the year, we also undertook a comprehensive review and refresh of our internal company policies, including Safeguardlng. accessibility, and dignity at work. to ensure an Inclusive, safe and sustainable organisation. In addition, the Board of Trustees has established a new People & Planet subcommittee. which will provide dedicated oversight of safeguardSng and environmental sustainability as we recommit to putting Individual care at the heart of our company. These achievements come during a period of ongoing economic pressure and a challenging fundraising environment. We remain a stable and forward-laclng organisation. grateful for our continued support from Arts Council England as a National Portfolio Organisation. while focused on building the strategic capacity needed to thrive in the long term. l am deeply proud of the work we have done this year, work that has strengthened our foundations while slaying true to our values. As always. l offer my sincere thanks to our Board of Trustees, our eXptional team, and the many partners. funders, and individuals who make this work possible. Boundless exists to champion new voice¥ and bold ideas. Thanks to your support, we continue to do exactly that, with clarity. purpose, and care. André André Renaud . Chair of Board of Trustees for Boundless Theatre 3 IPage
BOUNDLESS THEATRE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE 2024125 Key Projects from 2024125 Makina: A Class Feellng After the success of the previous year's production, Custom's House moved the show Into their main house and invited Pavlos Christodoulou back to direct.an expanded version, rewritten to a longer length with additional characters. This tim& we reengaged MC Tolman and Flecky as part of the on-stage cast, integrating the Makina Mcs and centring their'experiences, while also having the entire cast take on MC roles wilhin the show. Boundless A¢¢elerator Programme In 2024, Boundless Theatre continued its commitment to nurturing young talent through Its third cohort of the Boundless Accelerator Programme. recruited in late 2022 as the 2023-2024 cohort. The programme. led by Talent Development Producers Gabi and Joshua, provided intensive support to ernerging artists as they developed their creative work over the Fourse of the year The 202&2024 Boundless Accelerator Programme focused on the complex and multrfaceted theme of Money. Each year, Boundless selècts a theme that prornpts artists to explore big. challenging topics. and this year's theme encouraged partlcipant5 to delve into the intrlcate ways money impacts society. The theme was chosen for its vastness, recognizing that it intersects with many different issues, including power, inequality, Opportunity, and culture. The focus of the programme was to guide the artists toward producing 30-minute industry sh8rings of thelr work, which took place at the Union Theatre in Central London in, July 2024. Throughout the year, the cohort participated in a range of developmental activities, including a rnid-point sharing where they presented drafts of their work to one another and received valuable peer feedback. This collaborative environment helped refine their ideas and pushed their creative boundaries. The 202&2024 cohort featured a diverse group of artists, including On the Common, Jade Fr8nks. Christopher Whyte and Y88ffl1ne Dankwah, all of whom brought unique perspectives and artlstic approaches to the programrne. As the artlsts continued to receive guidance, the programme also provided fundlng to ensure thal they had the necessary resources to develop their projects. Boundless Box•8 This year. the Box had another season of activty across the UK, in Scarborough and in London Waterfoo through a Cockayne Foundation and London Cornmunity funded run. The adivity in Scarborough took place from June to August and included exhibitions, a podcast featuring local young creatives. an interactive art project, and space for many artists to share their woth. In London, the Box continued with exhibitions and public workshops, along with a remounting of Rewire, our youth rnental health project from the previous year. In this version of Rewire we invited young poets to come together and share work reflecting their experiences as young people In a poetry night curated by a more experienced poet. who also ran a workshop for the group the week before. We also hosted wellbeing focused interactive art to engage with locals and the wider public about rnental health. Co-l•adershlp In its second year we used our year one learnings to redesign our Blagrave Foundation and Listening Fund supported co-leadershlp program, focusing on the depth of the offer and the substantiveness of its irnpact on o work. As a result, we shifted from young co-leaders over five months to one co-leader over nine months, with substantially more funding allocated to training and development. The nine-month tenure for this role began in January 2025. T.his allowed us to focus more closely on the co-leaderfs development throughout their tenure. We also changed the role b'tle to Associate Programrne Director to Teflect a more specific remit centred.on developing and reimagining our Boundless Drama Club community wogram. 4 IPaJJe
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The beginning of their role this year involved extensive training and active participation in shaping our evoFving vision and mission. They also took on responsibility for sending weekly newsletters and organising show trips to theatres auoss London, In addition, we began developing the strategy for the remainder of their program. -Appointing a young person like me to programme foryoung people the community Boundless serves puts'into action the belief that young people are expert at being young people. Only by working with us will the industry know what we need and care about. It feels 8ffinning to be given the responsibility and l also value being given Ihe pennission - and stability- to take the space and time to think in depth about why fomiing creative communities with young people is important." Beth Drury Boundless Drama Club Continuing our commitment to creating opportunities for our community of young creatives, the 8oundless Drama Club expanded its offer this year with additional show trips and workshops. This included 12 theatre visits. five workshop opportunities, and our regular newsletter sharing opportunities and updales. We also r.e8ched out directly to our Drama Club network with specific opportunities, including the c(hleadership role, and successfully recruited 8eth for Ihis position through that process, Ll$tonlnglMentorlng A core focus of our program this year was listening to our community of young people through conversations and mentoring. Thfough 20 hours of focussed conversation with young people in our community, and a commitment to 8 hours a month thereafter from our Creative Director, we have been leaming about what young people need frorn the sector and us. Through this process some key headlines included: The need for creauve communlty and connectlon The need for thlrd space and space to play creatively The need for training and leaming about,artistic practice Resources to Incubate Idea$ that slt outslde of conventlon81 dlsclpllnary boxes The need for organisations to show up Sn their values in 8 ttolistic way The need for consistent support. With these findings, we are shfftlng our programming and practice towards resources that support artists in these more holistic ways, and away from a focus on commissioning mora established Write to develop work for young audiences. 8luo.mlst This year, we partnered with playwright Zain-moharned Dada and touring theatre company Tamasha to begin work on co-producing a 2026 tour of Zain's ¢ebut p.lay, Blue Mist. As part of this project. Boundless is collaborating with the creative team to design a bespoke wraparound engagement programme that will train and support young produr5 in each tour location. These producers will create community event5 that respond to the themes of the show and offer accessible entry points into the.theatres for South Asian and Muslim audiences. 5 IPage
BOUNDLESS THEATRE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Boundloss at. Destelhelde In September 2024, Creative Director Pav headed to Belgium to an arts education residential at Destelheide a5 part of Codenama.. Seedling. a project organised by Erasmus+ The UK artists brought a project called 'The Island. working with young people in the UK and Vanuatu to explore Climate Justice. This then culminated in the development of a performance workshop for audiences to think about their accpuntability and responsibility in the context of the inequity of the clim8te crisis. This proj8ct involved co118borators frorn Belgiuin, Denmark. France and Portugal, and represents the.beginning of this project and an ongoing international collaboration through Erasmus+ and the University of Brussels. Our Organlsatlon 2024125 has been a year of renewal and consolidation for Boundless Theatre. defined by the continued strengthening of our leadership, govemance, and organisational foundatlons. With the appointment of Creatlve Director & CO-CEO Pavlos Christodoulou in October 2024. working alongside our Executive Director & CO-CEO Adèle Reeves appointed in February 2024, we have further embedded the co-leadership model at the heart of the ' organisation. This stwcture has brought clarity. shared accountability, and a more collaborative way of working across the company, enabling Boundless to respond to the needs of young people and the sector with renewed focus. Alongside this, at the end of the year we welcombd four new Trustees whose industry expert¢se has enhanced the Board's ability to offer strategic guldance at a time of sector-wlde uncertainty. This expanded governance capacity has come alongside a comprehensive review of our. internal frameworks, including updated organisational policies and a refreshed approach to safeguarding, accessibility, and dignity at worf(. As part of this ongoing work. we are Currently redefining our subcommittee structure to ensure we have dedicated oversight of areas vital to our values, induding access, safeguarding, diversity and indusion. climate juslice, finance and risk, and fundraising. This work strengthens the organisation's long-term resilience. Intemally, we have invested in deepenjng our systems, practice, and shared culture. Staff-wide training in co- creation. as well a5 vision and mission development sessions led by Ned Glasier fonnally of Cornpany 3. have helped shape a clearer organisalional identity grounded In collaboration, care. and youth insighl. Building on learning from the first year of our youth Co-Leadership programme, we relaunched the initiative supported by the Blagrave Foundation and the Listening Fund. appointing Beth Drury as our Associate Programme Director, with enhanced scaffolding. trainlng. and group leaming, ensuring thal young leaders are supported not only to be embedded within our work but to grow as cultural leaders. We believe that young creatives shouldn't have to wait their tum, but with the right support, they can lead now. This sits alongside the relaunch of our Advlsory Group format, whose new cohort appointed at the beginning of the next financial year will bring renewed energy and perspective to our strategic thinking and youth listening. Our base at Stanley Arts remains central to our identity, and this year we priorltlsed beglnning lo build stronger relah'onships across Croydon. Rather than accelerating delivery, we focused on establishing meaningful connections wilh community partners, creatives, and young people. laying the groundwork for a more embedded ' and responslve local programrne. This has supported the development of a long-temi communlty strategy whose eafly outcomes will begin to ernerge in the coming year. Despite ongoing pressures caused by the cost-of.l&vlng crisis and a challenging fundraislng landscape, we have tsken practical steps to strengthen.the stability of our organisation. We continued to shift towards more permanent roles, improved staff retention, and upheld our Commitrnent to fair pay, including for earfy-career positions. We also laid the foundations for a more robust income strategy, preparing to welcome a new Head of Cornmunications & Development while upskilling team members to support financial and operational resilience. Looking ahead, we are also preparing for the next phase of Boundless, development by deepening our evaluation processes and ensuring that they remain both democratic and dynamic. With the extended Arts Council England NPO timeline offering space for more strategic preparation, we are using this year to clarify our long-temi vision, strengthen our storytelling, and ensure Boundless remains an organisation defined by purpose, care, and the voices of the young people we exist to seNe. 6 IPage
BOUNDLESS THEATRE TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 ' Factors affectlng the achlevement of obJ•¢iives This year. the ongoing cost-of-living crisis has conkn'nued to raise our operational costs, from staffing and freelan fees to inaterials and venue hire. These pressures are also affecdng our audiences and participants. with reduced disposable income influencing attendance and engagement, At the same time. the fundlng landscape hal become even more competitive, making it harder to secure grants and meet financial targets. L4ke many arts organisations, we have felt this acutely. In response. we have focused on strengthening our fundraising strategy and develoixng more efficient ways of working, including deepening partnerships wilh other organisations. We remain'committed to fair London-weighted pay for all roles, though this has become Increaslngty challenging as costs rise. Our community of young creatives Is also particularly affected by the current financial pressures in the sector. ' Across the industry. rnany larger arts organisations have scaled back or abandoned earlyreer support schemes due to limited resources. reduced capacity for training. and an increased reluctance to take artislic or hiring risks. These schemes, however. are core to our mission and vision. We are both unable and unwilling to step away from this work, even as it becomes more challenging to sustain. While we rem8in committed to investing In entry-level roles and ensuring we have the capacity to train. onboard, and support young professionals meaningfully. the wider.decline in funding for opportunities for earfy<areer artists does create additional pressures that affect the achievemenl of our objectives. FUTURE PLANS (2025126 QI AND BEYOND) AS we look towards the future, Boundless Theatre is committed to building on the progress made over the past year while focusing on creatlng sustainable and impacttul opportunities for both our team and the communities we serve. Our plans for the upcoming year focus on developing core activity to reach its full potential. finding new ways to bring Croydon-based creativity to new platforms. strengthening local connections, and continuing lo evolve as a dynamic, responslve organisation. We have committed to deliverlng the followlng In 2025-2026 as part of our continued Arts Council England National Portfolio Organisation status: Continuing the development of the Co-leadershlp role supporting them to strengthen their leadership skills and to find a platfonn within the industry. Deepening ties with Croydon and it8 communitles to ensure Boundless Theatre remains an Integr81 part of local cultural lrfe. Worklng on rebranding the Boundless Drama Club with a fresh vision led by the Year 2 under-25 Co- Leader, offering more opportunities, growing membership, and providing a consistent programme of activities lo strenglhen community engagement, culminaling in a fundraising event later in the year, Developing a new company vision and plan for the 2025126 Arts Council NPO funding round, 811gned with Arts Council England's priorities. Recruiting a new round of our Advisory Group with a new dearer and more accessible model, including compensaling a group of up. to 8 young advisors to consult with us on our program and strategy. Completing an audit of our existing company policies and evaluation procedures. identifylng mlsslng areas of focus, clarifying opportunities for leaming and development, and comrnitting to an atiitude of advocacy and transparency as we move into our next year. Following on from our time in Destelheide, we will Sha our work on 'The Island at Shoreditch Town Hall in April. looking to find new partners for further collaboration over the coming years. We are establishing a new youth theatre programme in partnership with Zooco, a Croydon-based theatre company. The programme will support young people aged 1 21 through intensive weekend workshops, a residency. and a full rehearsal process, leading to a perfonTran in Summer 2026. 7 IPage
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Rettjming to the Customs House to collaborate on a new show exploring young people's rights to public spaces. We will support a writerldirector from Croydon to develop the piece with local youth sel¢e$ in South Shields and direct the show. to be shared in November 2025. Across the Summer we will conduct a series of workshops with the Southbank Centre in the Clore ballroom, focused on investigating what young creatives need right. now in temis of creative community and space. We will do this alongside artist collective TCMO, made up of young black artists expert in hosting events for young creatives. As part of thelr Summer of Play program, we will take the Box prototype out for one final season in Crystal ..Palace Park, where we w511 commisslon TCMO to develop a weekend of activity focused on young and marginalised aUdIenS corning into the park to do creative activities and workshops. Continuing work on our CprOduction of 81ue Mist touring in 2026. working to secure an Arts Council England Touring strand grant, and designing our wraparound engagement prograrn for young creatives. BIPage
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 I. FINANCIAL REVIEW Boundless Theatre achieved its aim of sustaining a healthy financial position. Income £233.763 {2023-24: £257,420) funds were recelved in the year.. Boundless Theatre is an Arts Council England National Portfolio Organisation (NPO) with the Current round of funding ending on 311t March 2027. We received: £8,354 from Stanley Arts towards ARCADIA £33,000 from The Blagrave Trust towards CORE COSTS, £15,000 from The London Community Foundation towards BOUNDLESS BOXES. £15,443 was returned to the London Borough of Croydon for HOUSE OF COMMONS. The Trustees confirm that the funding received from all sources has been used to finance the company's charitable activities or 18 Carried forward to 2025-26. 'Expondlturo Boundless Theatre's expenditure during the year totalled £201.460 (2023-24: £342,320) with 860/0 (2023-24.. 93Yo) directly attributed to reallsing th8 artistic programme: £23.369 (12Vo) was spent on realising producllons £30.605 (15 % ) was spent on artistic developrnent (including commissioning future work) £85,145 (42°/0) was spent on delivering projects and audience developtrient £33,536 (17Q/o) was spenl on digital, marketirtg and press The remaining 14Vo of costs consisted of staff, admin and overheads to deliver the artistic programme. R•80rve8 Pollcy Following the Impact of COVID-'19 and the subsequent recovery, the, Trustees have decided to maintaln a reduced General Reserve to an amount equal to 10 weeks operating.costs for 2024-25. then returning to a sum equal to the - slx monlhs. staff. admin, overheads and fundralsing costs plus 100/0 by the end of March 2026, which equates to £61,050 - £122,100. The resepies are considered sufficlent to safeguard agalnsl any temporary shortfall in income or any additional unforeseen overhead costs. The unrestricted funds of £60,995 are carried forward to 2025-26 as a General ReseNe. Thls represents just under 3 months of staff. admiri, overheads and fundraising costs plus 10'/0. The organisation has a plan in place to ensure that Boundless Theatre sits within the free unrestricted reserves range set out within its reserve policy. Restrlcted Funds carried forward are comprised of £2.060 for BOUNDLESS DRAMA CLUB. . Going concern Taking the opportunty to explain any financial uncertainties regarding the charitls financial sustainability and consideration of going concem (paragraph 1.23) and the steps being taken to address these uncertainlies. 91Page
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 After maktng appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate . resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Furtherdetails regarding the adoption of the going conrn basis can be found in the Accounting Policies. Investment policy" Give consideration whether there are any implications for any existing Of Potential'defined benefrt pension liability (paragraph 1.47) and investments the charity holds (paragraph 1.47) The Trustees consider it prudent to keep all funds in immediately accessible bank accounts. save where cash flow forecasts indicate that a substantial surn can be placed on long term deposit.'The company has accounts with CAF Bank Ltd and HSBC: all accounts are regularly monitored to ensure that, wherever possible. the maximum sum guaranteed by the Financial Services Compensation Scheme is not breached. Deflclt There are no fund$ or subsidiary undertakings that are materially in deficit. Rl$k Management The Trustees have assessed the major risks to whlch the charity is exposed. in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to Ihe major risks. Employef s Liability Insurance is in place to mitigate certain risks and a Trustees. Indemnity Insurance policy is also in pla. The charity has a detailed risk assessrnent which is reviewed annualty by Truslees. A. Finance & Risk Sub-committee, comprising of 4 appointed Trustees, meet prior to quarterfy Board meetings to provide an additional overview of finance and risk management. 2. STRUCTURE. GOVERNANCE AND MANAGEMENT Constitutlon The charity's objects and regu18tions are govemed by its Memorandum and Artlcles of Association. It was registered as 8 company limited by guarantee on 12 February 1999. Charitable status was granted on 2 NovembeT 2001, with registered charity number 1089185. Arnendments to the Artides of Association were adopted on 26 November 2009 with further amendments to the Articles of Associatton adopted on 9 December 2014. The most rent amendment was by a written resolution on 02 November 2016 in order to change the company name from Company of Angels to Boundless Theatre. A certificate of incorporation on change of name was provided by Companies House on 18 November 2016. Recrultment, •ppolntment or election of Trustees The management of the charity is the responsibility of the Trustees who are elecled and c04)pted under the terms of the Articles of Association. New Trustees are recruited through a specrfic recruitment process or can be propose by current Trustees or by the charity's officers and are appointed by existing Trustees. The Trustee skills audit Is regularly reviewed. In spring 2024 the Trustees took the decision to proactively recruit both theatre-industry specific and under-30 members to bring young adult representation and sector-based skills to the board and fill identified skills gaps whilst further improving represenlation by those with underrepresented protected characterlstics. Following a particulady success1 recruitment process the company was able to successfully identify four new candidates who all joined as full board members in March 2024. An initial induction comprises: information on the fomiat of the company; policies of the charity. training on charity finance and its specific application to the company,. provision of Charity Cornrnission publications on Trustee 101Page
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 responsibilities and effective stewardship and provision of publications for new Trustees from the Independent Theatre Council (ITC). Both new and existing Trustees are invited to attend ITC training courses on Board Development and to participate in regular Boundless Theatre 'stralegy days. at which the charity's strategic direction is fomulated. Most recently. we have created a Board Handbook which contains all 'the salient infomation for Trustees and our key policies in one place. We have also revised the terms of our committees, such as. the Financial and Risk Commiltee. Other pollGles Key policies available on request include Heatth and Safety, Equal Opportunities, Data Protection, Dignity at Wort(, and Safeguarding & Child Protection. Boundless Theatre prolects often comprise workshops for children and young adults. The charity operates a full Disdosure and Barring'SeNice check in strict compliance wilh legislation and has a child protection policy which incorporates best practice on working wllh children and vulnerable adults. Employment policies are outlined in the Company Handb¢)ok. In accordance with the charity's Equal opportunities policy. the charity has long established fair employment practices in the recruilment, seleclion. retention and training of staff with protected charactertstics and Is proactive in recruitlng diverse members of staff. Organlsatlonal Struclure and Declslon maklng The Board of Trustees. which meets quartèrly, administers the charity. 80th the Executive Director & CO-CEO and Creative Director & CO-CEO are responsible for.the chanty's operation. They report to ttte Board of Trustee5 at the quarterly meetings The Flnance & Rlsk Sub-committee meets quarterly and reports directly to th& Board of Trustees. Its delegated powers include overseelng the company accounts (quarterly management accounts and end of year), financial controls, to review and appoint the company's accountants, and review the companys risk assessrnent. Related Partles At each Board rneeting, the Trustees are requlred to declare any interest in the business of the company so that consideration can be given as to whether any conflicts might arise. During the year, no such interest was declared. MEMBERS. LIABILITY The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the evenl of winding up. 11 |Page
BOUNDLESS THEATRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES. RESPONSIBILMES STATEMENT The Trustees (who are also directors of Boundless Theatre for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordance wtth applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial ststements for each financial year. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state ol affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial ststernents, the Trustees are required to.. select suitable accounlSng pollaes and than apply them consistently; • observe the methods and prlnciples in the Charities SORP: make judgments and accounting estimates that are reasonable and prudent: prepare the financial slatements on the going concern basis unless it is'inappropriate to presume that the chantable company will continue in operation. The Trustees are responsible for koeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps lor the prevention and detectlon of fraud and other irregularlties. This report was approved by the Trustees on André Renaud (Chair of the Board) 05112125 and slgned on'their behalf by: 12 IPage
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOUNDLESS THEATRE (the 'Charity: l pOrt to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025. This report is rnade solely to the Charity's Trustees, as a body, in attordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My WOTk has been undertaken so that I might state to the Charity's Trustees those matters l am required to slate to them in an Independent examineffs report and for no other purpose. To the fullest exient permitted by law, I do not accept or assume responsibility to anyone other than the Charity ano the Charity's Trustees as a body, for. my work or for this report. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity (and ils 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 AGr). Having satisfied myself that the accounts of the Charity are noi 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 Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Acr). In carrying out my exarnination I have followed the Directions given by the Charty Commission under section 145(5){b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I can confirm that no matter¥ have come to ry attention In connection with the examination giving me cause'to believe: accountlng records were not kept in respect of the Charity as required by sectlon 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 requlrements of sects'on 396 of the 2006 Act other than any requirement that the accounts give a 'true and fail 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 wlth the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102)]. 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 other to enable a.proper understanding of the accounts to be reached. Signed: Dated: Z Luna Muncaster ACA LUNA MUNCASTER LTD. Chartered Accountants 40 Vera Avenue London, N21 1RG 13 IPage
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOU FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Restrlcted Funds Funds 2025 2025 Totsl Funds 2025 Total Funds 2024 Note INCOME FROM: Charitable activities Investments TOTAL INCOME 222.993 1,059 224,052 9,711 232,704 256,369 1,059 1,051 233,763 257,420 9,711 EXPENDITURE ON: . Charitable activities 169,590 31,870 201,460 342,320 TOTAL EXPENDITURE 169,590 31,870 201,460 342,320 NET INCOME I (EXPENDITURE) BEFORE TRANSFERS Transfers between Funds 54,462 (22,159) 32,303 (84,900) 14 NET INCOME I (EXPENDITURE) BEFORE OTHER RECOGNISED ' GAINS AND LOSSES 54,462 (22.159) 32,303 (84,900) NET MOVEMENT IN FUNDS 54,4fj2 (22,159) 32.303 {84,900) RECONCILIATION OF FUNDS: Total funds brought forward 26,533 24,219 50,752 135,652 TOTAL FUNDS CARRIEDFORWARD 80,995 2,060 83,055 50,752 All Income and expenditure derive from contlnulng actlvities. The Statement of Financial Activities includes all gains and losses recognised during the year. The notes on pages 16 to 26 lorrn part of these financial statements. 14 IPage
. BALANCE SHEET AS AT 31 MARCH 2025 .2025 2024 . Note FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand 277 3,054 12 51,019 34,607 85,626 3,450 69,230 72,680 CREDITORS: amounts falling due within one year 13 (2,848) (24,982) NET CURRENT ASSETS 82,778 47,698 NET ASSETS . 83,055 50,752 CHARITY FUNDS Restricted funds Designated funds Unrestricted funds 14 2,060 . 20,000 60,995 24,219 26,533 TOTAL FUNDS 83,055 50,752 The Trustees conslder that the chadty is entltled to exemption from the requirement to have an audlt under the provisions of section 477 of the Companies Act 2006 ("the Act.) and members have not required the charity to obtain an audlt for the year In question In accordance with section 476 of the Act. The Trustees acknowledge their responsibililies for complying with the requirements of the Companies Act 2006 with spect to accounting records and the preparation of financial statements.. The fln8ncial statements were approved by the Trustees on 0511212025 and signed on their behalf, by. André Ronaud Chair The notes on pages 16 to 26 fom) part of these financial statements 15jPage
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1.1 General infomiation and basls of preparatlon Boundless Theatre is a company limited by guarantee and is registered with the Charity Commission (Charity Registered Number 1089185) and Registrar of Companies (Company Registration Number 03712985) in England and Wales. In the event of the Charity being wound p. the liability in respect of the guardntee is limited to £1 per member of the Charity. The address of the registered office is given in the Charity infomiation on page 1 of these financial statenlents. The.Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016). the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companles Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015. .The Charity has applied Update Bulletin 188 published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. Tho fln8ncial statements are prepared on a going concern basls under the historical w81. convention. modifiod to include certain items at fair value. The financial slatements are psented in sterling whlch is the lunctlonal currency of the Charity and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 1.2 Funds Unrestricted funds are available for use at the discretlon of the Trustees in furtherance of the general objectives of the Charity and whlch have not been designated for otherpurposes. Designated funds comprlse unrestricted funds that have been set aside by the Trustees for particular purposes. -The aim and use of each designated fund is set out in the notes to the financial statements. Restricted fijnds are funds which are to be used in accordance with specffic restrictions irnposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such fiJnds are charged against the specffic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 16 IPage
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (contlnued) SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES (contlnued) 1.3 Incorne recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the Charity is legally entitled to the income after any performance conditions have been. met. tho amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the Charity will have been notified of the amounts and thesettlernent date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained. then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Chaiity and it is probable that they will be fulfilled. The Charity receives govemment granls iri respect of fijrthering its charitable objectives. Income from govemment and other grants are recognised at fair value when the Charit¥ has entltlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts aredeferred. Interest on funds held on deposit Is included when rece5vable and the amount can be measured rellably by the Charity: this is nomially upon notification of the interest paid Of payable by the Bank. 1.4 Expendltur• rKognltlon All expenditure Is accounted for on an accruals basls and has been classified under headings that aggregate 811 costs related to Ihe category. Expenditure Is recognised where there is a legal or constructive Dbligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Redundancy and temiinalion payments are recognised immedialely upon becoming a constructlve obligatlon. Expenditure is categorised under the following headings: Expenditure on charitable activltles includes all costs Incurred on furthering the objects of the Charity,. and Other expenditure represents those items not falling into the categories above. Irrecoverable VAT is charged as an'expense agalnst the activity for which expenditure arose. Grants payable to thlrd partles are within the charStable objectives. Where uncondltlonal grants are offered. this is accrued as soon as the recipient is notified of the grant. as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant Ss only accrued when any unfulfilled condltlons are outslde of the control of the Charlty. 1.5 Support Costs allocatlon Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, govemance costs, administrative payroll costs. They are incurred directty in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated. to expenditure on charitable activities on a basis consistent with use of the resources. Governance costs are those incurred in connection with the running of the Charity and compliance with constitutional and statutory requirements. Fund-raising costs are those incurred in seeking voluntary c0ntrfbuonS and do not include the costs of disseminating infonnation in support of the chaiitable activities. The analysis of these costs is included In note 8. .17 IPage
NOTES TO THE FINANCIAL STATEMENTS - FOR THE YEAR ENDED 31 MARCH 2025 (continued) SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES (contlnued) 1.6 Tanglble flxed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impainnent losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible ,fixed assets, at fates calculated to write off the cost, less estimated residual value, of each asset on a systernatsc basis over its expected useful lrfe as follows: Office equipment Other fixed assets three years on cost three years on cost 1.7 Debtors and creditors reeelvable I payable wlthln one year Debtors are recogniséd when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income wlll be received. Creditors are recognised when the Charity has a present legal or constructive obligation resulling from a past event and the settlement is expected lo result in an oufflow of economic benefits. 1.8 Tax The Chadty is an exempt Charity within the meaninu of schedule 3 of the Chafities Act 2011 and Is considered.to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the définition of a charitable company for UK corporation tax purposgs. It therefore does not suffer tax on incomp or gains applied for charitable purposes. 1.9 Golng concern The financlal statements have been prepared on a golng concem basls a8 the Trustees believe thal no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income an¢J expenditure for 12 months from auth0ri5ing these flnancial statements. The budgeted Income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as 8 going concem, 1.10 Flnanclal Instruments The Charity only holds basic Flnancial Instruments,. The financial assets and financial liabililies of the Charity are as follows: Debtors - trade and other debtors (Including accrued income) are basic flnanèial instrum8nts and a debt inslwments measured at amortised cost as detailed in Note 12. Prepayments are not financial instruments. Cash at bank - Is classified as a basic financial Instrument and is measured at face value. Liabilitles - trade creditors, accruals and other creditors will be classified as financi81 Instruments, and are measured at amortised cost as detailed in Note 13. Taxation and social security are not included in the financial Instruments disdosure. Deferred income is not deemed to be a financial Ilability, as in the cash settlemenl has already taken place and there is simply an obligation to deliver charitable services rather than cash or another financial instrument. 18 IPage
. NOTES TO THE FINANCIAL STATEMENTS. FOR THE YEAR ENDED 31 MARCH 2025 (conllnued) 2. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restrlcted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Productions Artistic Development Projects & Audience Development Digital, Marketing & Press Core 10 (15,443) (15,433) 1.148 40,123 2,377 204,489 232,704 3,991 5,619 80,942 2,576 163,241 1,148 14,969 2,377 204.489 25,154 222,993 9,711 256,369 Total 2024 192,146 64,223 256,369 ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES BY TYPE OF INCOME Total Funds 2025 Total Funds 2024 Box Office and simllar Income Partnership income Theatre Tax relief Grants Donations 215 378 22,223 232,198 291 231,487 2,281 232,704 256,369 19 |Page
NOTES TO THE FINANCIAL STATEMENTS . FOR THE YEAR ÉNDED 31 MARCH 2025 (contlnued) GRANTS RECEIVABLE 2025 2024 ACE - National Portfolio Organisation London Borough of Croydon - retum of grant REWIRED Youth 189,487 {15.443) 1,800 8,354 33,000 15,000 189,487 Stanley Arts The Blagrave Trust The London Community Foundation 42,000 Total 232,198 231.487 INVESTMENT INCOME Unr•strlcted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Bank Interest 1,059 1,059 1,051 Total 2024 1,051 1,051 20 IPage
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (contlnued) ANALYSIS OF EXPENDITURE BY CHARITABLE ACTIVITIES Actlvltles undertaken dlrectly 2025 Support - costs 2025 Total 2025 Total 2024 Productions 233 23.136 24,901 59,467 31,227 28,493. 167,224 23,369 30,605 85,145 33,537 28,804 201,460 55,087 52,166 159,672 51,282 24,113 342,320 Artistic Development Projects & Audience Development Digital, Marketing & Press Core Total 2025 5,704 25,678 2,310 311 34,236 Totsl 2024 105,934 236,386 342,320 Direct costs are analysed in Note 7. Suppoit costs are analysed in Note 8. In 2024, of total expenditure on charitable activities, £223,066 was from unrestricted fvnds, £119,254 was from restricted funds. ANALYSIS OF TOTAL EXPENDITURE ON DIRECT COSTS 2025 2024 Artistic direction and fees Co-productions Performprs fees Marketing Venue hire Travel and subslstence Royalties and commissions Production costs 550 7,674 4,754 6,775 2,822 303 1,126 8,883 33 21,069 4,635 274 81.272 General administration Wages and other Creative fees Total 34,236 105,934 21 IPage
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) ANALYSIS OF TOTAL EXPENDITURE ON SUPPORT COSTS 2025 2024 Premises and utilities General administration Governance Wages and salaries Depreciation 6,113 54.385 2,038 101.911 2.777 5.670 45,313 1,724 180,903 2,776 Total 167,224 236,386 Governance costs include £900 for the Independent Examiners, remuneration. NET INCOME I(EXPENDITURE) This is stated after charging: 2025 2024 Depreciation of tangible fixed assets: - Owned by the charity 2,777 2,776 Auditorfs renumeration - EC reportlng Independent examlnerfs remuneratlon - statutory accounts 900 900 Independent examlnerfs remuneratlon - accounting & tax service During the year, no Trustee received any remuneration (2024 - £NIL) During the year, no Trustee received any benefits in kind (2024 - £NIL) During the year. no Trustee received any reimbursement of expenses (2024 - £N IL) 10. STAFF COSTS 2025 2024 Wages and salaries Social security costs Other pension costs 97,156 2,819 1,936 169,257 8,624 3,022 Total 101,911 180,903 22 IPage
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (contlnued) The average number of persons employed by the Charity during the year was as follows: 2025 No. 2024 Mo. . Part-time. Full-time No employee received remuneration amounting to more than £60,000 in either year. No employee rec8ived benefits.. The Senior Mana9ement Personnel are the Executive Director and Creative Director. Remuneration ceived by Key Management Personnel amounted to £57,923 {2024: £70,496). 11. TANGIBLE FIXED ASSETS Offlce Other flxed equlpment assets Total Costs At 1 April 2024 Additlons Disposals At 31 March 2025 24,174 13,500 37,674 24,174 13,500 37,674 D6pr8clatlon At 1 April 2024 Charge for the year On disposals At 31 March 2025 21.120 2.777 13,500 34,620 2,777 23,897 13,500 37.397 Net book value At 31 March 2025 277 277 At 31 March 2024 3,054 3,054 23 |Page
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (contlnued) 12. DEBTORS 2025 2024 Trade debtors Other debtors Prepayments and ac¢rued incorne VAT recoverable 51,019 3,450 51,019 3,450 13. CREDITORS: Amounts falllng du• wlthln one y•ar 2025 2024 Trade creditors Other creditors Accruals and deferred income 38 1,892 918 11,033 13,049 900 2,848 24,982 14. MOVEMENTS IN CHARITABLE FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balanc• at 1 Aprll 2024 Balance at 31 March 2025 Tran5f•rs Inlout Incoffle Expondlluro Unrestrfcted Fund Deslgnated Fund General Fund 20.000 {20,000) 20,000 60,995 80.995 26,533 26,533 224,052 224.052 169,590 169,590 Restrlcted Fund 24,219 9.711 31.870 2,060 Total of funds 50,752 233,763 201,460 83,055 24 |Page
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (contlnued) . Nature and purpose of funds The Trustees carried forward a £60,995 General Fund in line with the company reserye policy and designated £20,000 for the Co-Leader salary. Restricted Funds carried forward are comprised of £2,060 for BOUNDLESS DRAMA CLUB. SUMMARY OF FUNDS- PRIOR YEAR Balance at 1 Aprll 2023 Balance at 31 March 2024 Transfers Inlout . Income Expenditure Unrestrlctsd Fund Designated Fund General Fund 56,402 56,402 193,197 193,197 223,066 223,066 26,533 26,533 Restrlcted Fund 79.250 64,223 119,254 24,219 Totsl of funds 135,652 257,420 342,320 50,752 25 |Page
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued) 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestrlcted Restrlcted Funds Funds. 2025 2025 Total Funds 2025 Tangible fixed assets Current assets Creditors due within one year 277 277 85,626 (2,848) 83,566 (2.8481 2,060 80,995 2,060 83,055 ANALYSIS OF NET ASSETS BETWEEN FUNDS. PRIOR YEAR Unrestricted Funds 2024 Restricted Funds 2024 Totsl Funds ,2024 Tangible fixed assets Current assets Creditors due within one year 3,054 48,461 (24,982) 3,054 72,092 (24,394) 24,219 26,533 24,219 50,752 16. RELATED PARTY TRANSACTIONS Other than Trustee and Senlor Management Personnel transactions detailed in note 10, there were no related paty transactions during the period (2024: £ nil). 26 jPage.