REGISTERED COMPANY P4UMBER: 1983586 (ENGLAND AND WALES) REGISTERED CHARITY NUMBER: 1092029 REPORT OF THE TRUSTEES AIYD UNAUDII"ED t4lNANCIAL S"I"A"I'LMLN'I'S FOR THE YEAR ENDED 31ST MARCH 2025 FOR MIRACLE THEATRL TRUST LIMITED fjtotjtgtytg THEATRE TC GroLIP The Old Carriage Works Moi'esk Road TRURO Cornwall TRI IDG
MIRACLE THEATRE TRUST LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Page Report of the Trustees I to6 Independent Examiners Report Statement of Financial Activities Balan¢¢ Sheet 9and 10 Cash Flow Statement 11 and 12 Notes lo the Fiiiancial Sialeinents 13to23 Detailed Stateinenl of Financial Activities 24 and 25
MIRACLE THEATRE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The trLlStees who are also directors of the charity for tlie purposes of the Companie% Act 2006, present their report will) the finaiicial statements of the chai'ity for the year elided 31 Marcli 2025. Tl)e trLislees l)ave adopted the provisions of Accounting and Reporting by Charities: Statement of Recommeiided Practice applicable Eo cliarilies preparing tlieir accoLints in accordance with the Financial Reporting Standard applicable iii the UK aiid Repiiblic of Ii'eland {FRS 102) {effectiv¢ l Januai'y 2019). REFERENCE AND ADMINISTRATIVE DETAILS Registered Compally number 1983586 (England and Wales) Registered Charity number 1092029 Registered office Unit 4 Treleigh Industrial Estate Jon Davcy Drive REDRUTH TR16 4DE Trustees m.s A Bcry P R Williams A M Edinoiids M%SEKay Mrs J E Siitherland K Harandy S Ferrie S Groom Chair Resigned 3010612025 Appoiiiled 0711112024 Company Secretary W Scott Bankers HSBC Independent examiner Jaine5 Pearce FCA TC Group Tlic Old Carriage Works Morcsk Road TRURO Comwall TRI IDG
MIRACLE THEATRE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Since 1979, Miracle has toured small-scale theatre productions to rural communities and regional spaces, primarily across South-west England. Over more than four decades, the organisation has enjoyed steady growth and development, earning a reputation for high-quality performances and community engagement. This was the second and final year of the Miracle Max project, funded by a grant of £541,016 from the UK Government's Shared Prosperity Fund, which launched in 2023 and has been successfully delivered across all strands- Miracle Lab, Miracle Camp, Community Collaborators & Commissions. Artistic Activity 2024125 l. Miracle Lab - Miracle Lab productÈons were Hells Bells, Love Rlot, Duffy and the Stiltskin and the Young Fishers podcast 2. Miracle Youth Theatre - February - May 2024 3. Quizzards - April - June 2024 4. Squirrels - The Great Estate Festival, June 2024 5. Love Riot- June- AugL£St 2024 6. Made in Cornwall - November 2024 7. Spymonkey Workshop- March 2025 8. School & College Worf(shop- March 2025 9. Writers Initiative - November 2024 onwards Duffy and the 5tiltskin, Zoe Alker, Amelia Sutherland, Jack Brownridge, Daniel Richards and Tom Adams 10. Young Fishers Podcast Launch - 29 November 2024 11. The Real Father Christmas - December 2024 12. Duffy and the Stiltskin - December 2024 - January 2025 l. Miracle Lab The Artistic Working Group is now well established with Sally Crooks (director), Giles King (actor), Ben Dyson (actor) and Jude Munden (designer) joining the management team. The AWG functions effectively as.. a forum for discussion about future programming a feedback channel from the wider Miracle team 3 panel for reading, crits'quing and developing scripts means of internal evaluation 2. Miracle Youth Theatre Miracle Youth Theatre (M) was established in partnership with The Ladder in Redruth, responding to local demand for youth theatre opportunities. The programme ran from February to May 2024 and provided young people with a strurtured creative Spa to develop performance skills, culminating in a Showcase event at st Andrew's Crypt, Redruth, on 19 May 2024, attended by family, friends, and the wider community. The participants were encouraged to develop their own work: from an idea, through research, devising and rehearsal, to a performance. The process was very much led by the group, with guidance and support from Miracle's a550ciate artists, Dan Richard5 and Eggy Ray. 3. The Quizzards Comedy Pub Quiz Quizzards is a grarOOtS community engagement initiative developed by Miracle Theatre as part of its SPF Community Collaborators programme. Designed as a comedy pub quiz with a theatrical twist, Quizzards serves as an innovative audience development tool, introducing new communities to Miracle's work and strengthening relationships in key touring locations.
MIRACLE THEATRE TRUST LIMITED REPORT OF THE TRUSTEIS FOR THE YEAR ENDED 31ST MARCH 2025 Cont. Quizzards was included in the Roseland Festival and delivered as part of the Creative Scilly Festival on St Martin's, St Mary's and Tresco. These events drew full houses and proved the value of face-to-face interaction with aUdIenS in advance of touring a Miracle production, helping to establish familiarity and increase attendance, raising Mirade's profile and laying the groundwork for the Love Riot summer tour. 4. The Great Scorrier Squirrel Challenge (June 2024) Developed by Miracle's newly appointed Associate Director for Youth, Hannah Stephens, this was an interactive team game, aimed particularly at families and young partiopants. A team of 8 freelancers gave 11 performances over the weekend of the Great Estate festival, entertaining over 650 participants. Through various challenges, communal singing, dancing and general tomfoolery, the squirrels delivered hilarious entertainment and a powerful ecological message. 5. Love Riot This successful production was the result of Miracle's long-term commitment to SUPPOrting emerging playwrights and dirertors. It was commissioned from Hannah Mulder, following her participation in Miracle Lab Writer's Residency and was Sally Crooks, directorial debut, after working for the company in various roles, including actor and a5SiStant director. Two new cast members joined Miracle via our talent development strand of SPF (Artors Camp). Love Riottoured outdoor venues across Cornwall, the Isles of Scilly and the wider South-west from May to August 2024, reaching 44 venues and delivering 60 performances. The production was enjoyed by 9,853 people (of whom 81 % were Cornwall residents). The show attracted visitors from all over the UK and the USA, Canada, France, Ireland, Switzerland, the Netherlands, Germany, and Australia I Interestingly 12.22 % of the audience did not use a car to travel to the venue, contributing to lower carbon emissions The production received an average audience rating of 4.815, reflecting Strong audience satisfaction. 6. Made in Cornwall: Writers Development & Perforniance - November 2024 A participatory initiative that combined talent development and live performance, providing emerging Cornish writers with the opportunity to refine their work through mentorship, collaboration, and public presentation. The programme culminated in a live Satch Night performance at the Ladder in Redruth, offering audiences an insight into new work in progress. The writer5 reported that the opportunity to test their work in a professional environment was extremely valuable. This initiative formed part of Miracle Theatre's commitment to fostering local talent and Strengthening Cornwall's creative sector. 7. Spy Monkey Workshop Mirdcle collaborated with Falmouth Town Council to promote 2 very successful free workshops (one for children and one for adults) in Falmouth, with the legendary Spymonkey theatre company, 'the reigning monarchs of physical comedy,. These took place at the Atheneum Suite in Falmouth on 8th March 2025. 8. School and College Workshop In March, Miracle took part in the brarY Festival, organised by Callywith College, to mark World Book Day (6 March 2025). This was a celebration of writing in all its forms and Daniel Richards and Hannah Stephens ran a workshop on play making and were on hand to offer career advice to students interested in performing arts. This was extremely popular and they were invited back to the College to run a Shakespeare workshop- focussing on one of their set plays, Macbeth. th 9. Writers, initiative Miracle continued to work with new writers throughout the year, working with Zoe Alker on a behind the Scenes comedy to mark the centenary of the first BBC outside broadcast, from the village of St Hilary in West Penwith, on Christmas Eve 1926. Miracle is also developing an adaptation of Peer Gyntwith Amelia Sutherland for Summer 2026. Other projects with Jack Brownridge, Daniel Richards and Tom Adams are at an early stage.
MIRACLE THEATRE TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 Cont. 10. Young Fishers Podcast Associate Director, Hannah Stephens, worked with Emer Morris to record interviews Wlth young people in Cornwall and Scotland who are following careers in the fishing industry, giving them an opportunity to talk about their experiences, aspirations, and challenges. The podcast launched at a live event in Newlyn on 291h November 2024 with young fishers from Cornwall talking about their experiences and young fishers from Scotland joining remotely. The resulting four half-hour episodes are available on all the major podcast platforms and are scheduled to be broadcast on Radio Cornwall and made available on BBC Sounds. 11. The Real Father Christmas Miracle organised the annual Real Father Christmas event on the Moor in Falmouth. As in previous years, Father Christmas (dressed in authentic green with a team of volunteer elves) appeared in a grotto, constructed in the back of the Miracle van, and invited children to bring him a gift to pass on to other children, less fortunate than themselves, who might otheiSe receive no presents. A huge number of toys were received and passed on to local charities, including the Salvation Army. 12. Duffy and the Stiltskin Duffy and the Stiltskin began life at Miracle's Writers Residency, held at the EcoPark in Porthtowan in 2023, as a 15-minute play adapted by Hannah Mulder from the Cornish folk tale Duffj/3nd the DevilIt was directed by Giles King. It was then developed by the same team as a full length show for the Christmas holiday slot at the Princess Pavilion. There were 26 performances, between 141h December 2024 and 4th January 2025 which sold well pre-christmas but, in common with many venues across the country, suffered from poor houses after Christmas. structure and Management A small, experienced team continues to manage Mirade with shared palOn, dedication and a tlexible attitude, ensuring the company is resilient and stable and continuing to punch above its weight. Bill Scott, Founder and Artistic Director (since 1979), who has written, adapted, and direrted over 50 productions for the company. Annie Ukleja, Managing Dirertor (J'oined 1999), who has managed the production of more than 34 touring producknons and been instrumentsl in Miracle's development. SPF funding required Miracle to expand its team in order to deliver the project. The current management team is comprised of.. Nadia Henrique-murrayi Marketing Manager (2.5 days per week)- leading on outreach, audience development and engagement strategies to expand Miracle's impact. Becky Cottrell-jury Marketing and Event Coordinator (3 days per week) - supporting event planning, promotional activities, and public engagement for productions and projetts. Julia Knight Bennett Operation5 Manager (full time) - ensuring efficient day-to-day operations, resource allocation, and project delivery. Sally Crooks Associate Director - Miracle Lab (2 days per week) - leading the Miracle Lab initiative, fostering innovation and professional development among associate artists. Hannah Stephens Associate Director (I day per week) - developing youth-focu5ed and community-based initiatives and grassroots engagement programmes. Louis King Technical Production Manager (2 days per week)- overseeing the technical aspects of productions, ensuring Seamle delivery of high-quality shows and events. This expanded team has enabled Miracle to deliver successfully against its busirsess plan, exceed expectations, and respond swiftly to new opportunities This management and administration team supports a wider team of freelancers (artists, stage management, technical production) who come together to deliver each project. Miracle Theatre Trust has a subsidiary company, Miracle Theatre Productions, in which it holds all the shares.
MIRACLE THEATRE TRUST LIMITED REI PORT OP THE TRUSTEEI S FOR THE YEAR ENDED 31ST MAIICH 2025 Cont. Board of Trustees & Governance Miracle Theatre has a strong Board of very engaged Trustees, with a wide cross section of artistic, cultural, commercial and financial experience, led by an exceptionally proartive and experienced Chair, Mandy Berry. There are currently six other trustees: Ross Williams, Jane Sutherland, Sue Kay, Andrew Edmonds, Kamran Harandy and Samantha Groom. A recent recruitment campaign proved very successful and Identified several potential new members. The full Board meets 4 times per year and in addition has one Away Day to consider in depth particular topics or issues. A permanent Finance Sub-committee also meets quarterly, with ad-hoc working groups as needed. Mi13cle Business Plan, Arts Council & Cornwall Council funding agreements are supported and upheld by the trustees. There is a Trustee attached to each Arts Council Investment Principle as Miracle moves into the next NPO funding agreement. Finance & Fundraising SPF grant funding awarded to Miracle (the Miracle Max project) as part of Cornwall Council's Good Growth plans and the levelling up government agenda, has enabled the company to grow, develop longer term plans and extend its Positive contrtbution to strengthening communities across Cornwall and the Isles of Sally. Delivery of the Miracle Max project has continued to absorb the majority of Miracle's time during 24-25. The project funding structure included match-funding from a proportion of Arts Council NPO fundingt earned income and volunteer hours in-kind. It did not rely on match-funding from any other grant fundraising. Arts Council NPO & Cornwall Council Miracle continues to be supported by Arts Council England through its NPO agreement and by Cornwall Council Earned Income from Box Offi Earned income came from the summer 2024 touring production of Love Riot- 60 performances at 44 venues across Cornwall, the Isles of Scilly, Devon and Dorset. The show received very positive audience feedback and generated £126,111 In box office receipts. Reserves Policy & Current Position As a charity whose business model relies heavily on earned incotne and fundraising, Miracle Theatre s Board of Trustees recognises the importance of a reserves policy to safeguard the charity against unforeseen circumstsnces. The trustees have determined to safeguard the operations or the charity by holding 4 months running costs in unrestricted reserves, as well as a designated fund to honour artists contracts should a project or production be cancelled. This will be based on 3 weeks, pay for 8 people. Reserves Policy & Current Position March 2025 The Trustees policy has been to build free reserves up to a minimum of four months of forecast core running costs- approximately £60,000 at 315t March 2025. The reserves policy also outlined a desire to retain a fund for Artist fees based on 3 weeks, freelance pay for 8 people £16,200 (24125 rates) - making the combined reserves target £76,200. At 31st March 2025 the balance sheet shows unrestrstted reserves of £185,376 of which £16,798 is represented by fixed aets, designated funds of £16,200, and free reserves are therefore £152,378.
IRACLE THE TRUST LIM PORT O TRUSTEES FOR THE YLAR ENDED 31ST MARCH 20 ON BEHALF OF THE BOAAiD: Ms A Berry- Chair TTU8tce Date.. 11 August2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MIRACLE THEATRE TRUST LIMITED I report to the trustees on Iny examination of the fii)ancial statements Miracle Theatre Trust (the cliarily) for the year ended 31 MarcE12025. Responsibilities And basis of report As the Iruslees of the charity (and also ils directors for the PLirposes of compaiiy law) yoii are responsible for the preparation of tlie financial slalemeiils in accordance willi Ilie requirements of the Coinpanies Act 2006 (the 2006 Act}. Having satisfied IT)yself that Ilie financial stalemeiits of the charity are not required to be audited linder Part 16 of the 2006 ALt aiid al'e eligible loi- iiidLpendenL examiiiation, I I'epoi't in I'ebpeLI ol- my cNamiiiation ot- the Lharitv s tiiiancial stateinents cari'ied OLII undei. sectloli 145 of tlie Chai-ities Act 2011 (the 2011 Act). Iii carrying out my exaininalion I have followed all the applicable Directions given by tlie Cliarity Cominission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to iy)y attention in connection with the examination giving ITJe cause lo believe that in any IT)aterial I'espeet= accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not accord with Iliose record%,' or the financial slatcmciils do not comply witli the accoiinling reqiiireinenls of sectioii 396 of the 2006 Act othei- than any requirement that the accoiints give a truc and fair view whicli is not a mallcr c0115idcred a5 parl of an independent exaimination- or the fiiiancial slalemcnls liavc not been prcparcd in accordance with the Inetliods aiid principles of the Statement of Recoinimciided Practice for accouiiting and reporling by Charities applicable lo charities prepai'ing their accounts in accordance with the Financial Ilcportiiig Standard applicable in Ihc UK and Republic of Ireland {FRS 102). I have no concerns and have comc aci'oss no other matters in connection with the examination to which attention should be di?wil 111 thi5 report in order lo enable a proper iinderstanding of the financial statement8 to be reached. <ticA Jaines Pearce FCA TC Gl'oup The Old Carriage Works Moresk Road TRURO Cornwall TRI IDG Date.. 1110912025
MIRACLE THEATRE TRUST LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 Total fiinds 2024 Total funds Unrestricted fiinds Re8lricled fiind Notes INCOME AND ENDOWMENTS FROM Donatioiis and legacie. Oilier Iradiiig activities Inveslinenl.% Charitable activities Production5 Other income Job i'eteiition scheme grants 11 8,095 8,647 318,324 436,419 8,647 385,357 5,149 220,592 220,592 54,856 Total income and endowments 347,334 318,324 665,658 445,362 EXPENDITURE ON Raising funds Charitable activities Produclioiis 225 48.915 49,140 46,618 235,812 331,672 567.484 293,829 Total expenditure 236,037 380,587 616,624 340,447 NET INCOMEIEXPEIYDITURE 111,297 (62,263) 49,034 104,915 Ti'ansfers bctween funds 5.577 (5,577) Net movement in funds 116,874 (67,840) 49.034 104,915 RECONCILIATiof4 OF FUNDS Total funds brought forward 17 68,502 75,673 144,175 39.260 TOTAL FUNDS CARRIED FORWARD 19 144 175 The notes form pai'l of these financial slateinenls
MIRACLE THEATRE TRUST LIMITED BALANCE SHEET AT 31ST MARCH 2025 2025 Total 2024 Total Unreslricled FLinds Reslricled flinds Notes FIXED ASSETS Tangible assets Investments 12 13 16,797 16,797 13,112 16,798 16,798 13,113 CURRENT ASSETS Debtors Cash al bank 14 175,613 175,613 100,565 195,441 7,833 203,274 163,978 CREDITORS Ainounts falliiig due within one year 15 (26,863) (26,863) {32,916} NET CURRENT ASSETS 168,578 7,833 176,411 113,062 TOTAL ASSETS LESS CURRENT LIABILITIES 185,376 7,833 193,209 144,174 NET ASSETS 185 2025 2024 FUNDS Unrestricted funds: General fund Designated fund 17 169,176 16,200 68,502 185,376 68,502 Restricted t'unds 7,833 75.673 IYET ASSETS The notes form parl of tliese financial slaleinents
MITED ALATr4CE S AT 31ST I¥L4RCH 2025 The charitsble rnpany is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ¢nil¢d 31s¢ Ma 2025. The members have not deposited & notice. pursuant to Section 476 of the Companies A¢t 2006 requiring an audit of these firki11 starem¢nts. Th¢ twst¢es acknowledge their responsibiliti¢s for- eyEsurÈng that the charitable eompany keep$ $¢eounting t¢tords that comply with Seth10 386 and 387 of the CopIleS Act 2006: &td pr¢poring fuwn¢ial st8t¢m¢nts which 8iV¢ 4 tre and fair view of the sÉate of affairs of the charitable company as at the cnd of eaGh financial yearand of its sU]uS ordeficitfor each financial yw in accoth¢¢ with tho requiremeTkts of Sections 394 and 395 and whicl) otherwise ¢omply with the r¢quirem¢nts of the Companies Act 2006 relating to finallci#l statemeots. sfr far 8s applic&bl¢ to the ch•ritsble company These fJRancial statement8 have been prepared in accordance with the spe¢bal piovigions of Part is of the Companies Act 2006 rel#tin¥ kn smail rharitable c4)mp2]eS. The finanetaj stateTnents weTe approved by the Board of TrtLes on 1110812025 an¢J were sigued on its behalf by: Ms A Berry- Cbair Trustce The notes forni part of thes¢ financial SleMents 10
MIRACLE THEATRE TRUST LIMITED CASH FLOW STATEMENT AT31ST MARCH 2025 2025 2024 Notes Cash tlows from operating activities Cash generated from operations 5,584 64,771 Net cash provided by operating activities 5,584 64,771 Cash tlows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets {9,303) (4,395) 2,305 Nel cash (used in)/provided by investing activities (9,303) 2,090) Cash flows from financing activities Movemeiit on intercoinpany loan 41,026 7,992 Net cash providcd by/{uscd in) finaiicing activities 141,0261 7,922 ChanLFe in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (44,745) 70,673 63,413 17.260) Cash and cash equivalents at the end of the reporting period 18,668 63,413 The notes fonn part of these financial statcinenls
MIRACLE THEATRE TRUST LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net Income for the reporting period (as per the Statement of FinAnci#l Activities) Adjustments for: Deprecialioii charges Profit on disposal of fixed assets Ilncrease)/decrease in debtors (Decrease)/increase in creditor.s 49,034 104,915 5,616 4,371 12,3051 (22,609) 19,601 (34,022) 15,044 Net cash provided by operations 5,584 64,771 ANALYSIS OF CASH AND CASH EQUIVALENTS 2025 2024 Cash al bank Overdraft 27,661 18,993) 63,413 Total cash and cash equivalents 18,668 63,413 ANALYSIS OF CHANGES IN NET FUNDS Ai 114124 Cash flow Ai 3113125 Net cash Cash at bank Ov¢rdraft 63.413 (35,752) 8,993 27.661 IR,993 Total 63.413 44.745 18.668 The notes form part of these financial statements 12
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES Basis of preparing the tinaneial statements Tlie financial stateiT)ents of tlie charitable coinpany, which is a piiblic benefit eiitity under FRS 102, have been pi'epared iii accordance with the Charities SORP (FRS 102) 'Accounling aiid Repot1ing by Charities: Stateinent of Recominended Practice applicable lo charities prepariiig their a¢¢ounts in a¢¢ordan¢e with the Financial Reporting Staiidard applicable in the UK and Republic of Ireland (FRS 102} {effective l Janiiary 2019),, Financial Reporting Standard 102'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial qtatements have been prepared under the Iiislori¢al cost convention. Ineome All incoine is recognised in the Statement of Financial Activities once the ¢harity lias eiititlemenl to tlie funds, it is probable that the income will be received and the amount can be measui'ed i'eliably. Grants, ineluding gi'ants for the purchase of fixed assets, are recognised as incoming resources iii the period of whicli Iliey are receivable. Where projects are Inounled on the basis of co-pi'oduclion with a third party, amounts contributed by the third party are included within incoming resources in the period in which they are receivable. Pcrformance incoine is included within incoming resources in the period in which the perfortnance takcs placc. Merchandise incoine is included within incoming resoLirces in the period of sale. Expenditure Liabilitics are I'e¢ogniscd as cxpcnclitLirc as soon as thei'e is a Icgal oi. constructive obligation committing tlie charity lo that cxpendilurc, il is probable that a Iransfei. ot economic benefits will be required in settlement anil the atnounl of the obligation Can be measiired rcliably. Expenditurc is accounted for on ali accrlials basis and has been cla$8ltied iindei. headings that aggregate all cost related to the category. Where costs ¢annot be directly altribuled to particular headiiigs tliey have been allocated to activities oli a basis consisle11t with the use of resourccs. Tangible fixed assets Depreciation is providcd at tlie following annual rates in order to write off each asset over ils usetul economic life. Equipmcnt: Motor vehicles.. 25U/o on r¢ducing balance 250/0 011 reducing balance Tiixation The cliarity is eAeTnPt froin ¢orporation lax on ils ¢liarilable activities, howevcr Ihc cliarity lias claitncd crcalivc iiidu51ry tax reliefs in relation to cor¢ production ¢xpenditure for eligible film and theatrical productions. Diiring the year ended 31 March 2020, the charity set up a theatrical prodiiction coinpany, Miracle Tliealre Productions Limit¢d which now Inak¢b such claims wliere appropriate. Fund accounting Unrestricted funds can be Lised in accordance with the charitable objectives al the discrelioii of the trustees. Restricted fLinds can only be used for particular restricted purpos¢8 williin the objects of the charity. Reslriclions arise when specified by the donor or when fiinds are raised for parlicLilar restricted purpos¢s. These include grants, co- produGtion partn¢r conlribiilions, donations and other incoming resources. Fiirther explanation of the natLire aiid piirpos¢ of each fiind is included in the notes lo the financial statemeiits. Designated funds are unreslricled funds, which have been designated for specific pLIiy05es by tlie Iiijstees. Volullteers and donated services and t'aeilities The valiie of sei'vices provided by voluiileers is not incorporale(l iiilo Iliebe fiiiancial .%iai¢inents. FLlrther details of the contribution Inade by volunteers can bc foiiiid in th¢ Iriisl¢¢s' annual r¢port. 13
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 INCOME FROM DONATIONS AND LEGACIES 2025 2024 Unrestricted inconie Arts Council of England- Core funding Coi'nwall Council Core funding Other grants Donations and spot)sorship 96,748 i 0,000 5,000 6,347 96,748 10,000 5,000 1,904 118,095 113,652 Restricted Income Sliared Prospei'ity Fund 318,324 271,706 436,419 385,358 INCOME FROM OTHER TRADING ACTIVITIES 2025 2024 Sale of Inerchandise Hire of equipinent Rehearsal 5pacc income Profit on disposal of capital cquipinent Miscellaneous income 412 3,866 2,791 17 1,363 1,438 1.579 26 8,647 5,149 INVESTMENT If4COME 2025 2024 Deposit accoiint interest INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Fees and box office takings for shows Cominission Sales of programines Iiicome from worksliops Production Production Production Pi'oduclion 205,742 8,358 3,742 2.750 42,(A4 7,500 1,153 3,559 220.592 54.826 14
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 CHARITABLE ACTIVITIES COSTS Direct costs Siippoi'l costs (Se¢ note 7) Totals Productions 423,492 143,992 567,484 SUPPORT COSTS Management Governancc costs Prodiiclions 13,232 130,760 143,992 NET INCOMINGI(OUTGOING) RESOURCES Net resources are slated after chargiiigl (¢rediling)'. 2025 2024 Depreciation 5,616 4.371 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 or for the year ended 3 1st March 2024. Trustees, Expenses 2025 2024 'I"i-Liblees' expcn5C5 26 io. STAFF COSTS 2025 2024 Wages and salaries Social security Pen%ion costs 183,690 16,562 6,050 143,054 13,202 4,723 206.302 160,979 The average number of employees diiriiig the year was as follows.. 2025 No 2024 No employee earned more than £60,000 in the year or in 2024.
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 202S ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 2024 Total funds Unrestricted funds Restricted fiinds Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investments ChAritgble Aetivitleg ProdLlCtions 113,651 5.149 271,706 358,357 5,149 54,856 54,856 Total income and endowment$ EXPENDITURE of+1 Raising fLinds Charitable aetivities Productions 173656 271,706 445,362 720 45,898 46,618 143 694 150 135 293 829 Total expenditure 196 033 NET INCOMEIEXPENDITURE 29,242 75,673 104,915 Transfers Net moven)ent in tunds 29,242 75673 104,915 RECONCILIATION OF FUNDS Total funds brought forward 17 39,260 39,260 TOTAL FUNDS CARRIED FORWARD 68 44 16
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEME]YTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 12. TANGIBLE FIXED ASSETS Plant and machinei'y elc. COST At 1st April 2024 Additions Dispo891s 83,384 9,303 92,685 At 31 st March 2025 DEPRECIATION At I st April 2024 Charge for year Eliininated on disposal 70,272 5,616 At 31 st March 2025 75.888 NET BOOK VALUE At 31 st March 2025 16,797 At J Isl March 2024 13.112 17
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 13. FIXED ASSET INVESTMENTS Sliares in group uiiderlakingys COST At I st April 2024 Addilioiis At 3 Isl March 2025 At 3 1st March 2024 There were no inveslmeiit assets outside the UK. The company's investments at Ilie balance sheet dale in the shal'e capital of ¢oinpanies iiiclude the following= Miracle Theatre Produetions Limited Nature of business.. Tlieatrical Production Coinpany Class of sliare.. Ordinary holding 100 2025 2024 Aggrcgale capital and reserves Miracle Theatre Prodiiclions Limited is a wholly owiied siibsidiary whicli produces theatrical productions on bchalf of Miracle Theatre Trust Limitcd. The company was incorporated on 6 May 2016. Accounts are filed with the Registrai. of Coinpanies. A suminary of ils results is given below.. 2025 2024 Turnover Cost of sales 179,022 264,508 71,679 105.976 Gross profit/(loss) Adininislrative expenses (85,486) 22.438 (34,297) 12.351 Nel loss Theatre lax relief (107,924) 107,924 146,648) 46,648 Profit l (Ios5) after tax 18
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Ainounts falling due within one year: Trade debtors Otlier debtors and prepayments Miracle Theatre Productions Limited 96 69,466 106,051 14,037 65,025 175,613 100,565 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Bank overdraft Trade creditor8 Other crcditors and accruals Taxation and social security 8,993 6,374 6,575 4,921 15,882 13,162 3,872 26,863 32.916 16. OPERATING LEASE COMMITMENTS The following operating lease paymcnls arc cominitted to be paid within one year.. 2025 2024 Expiring: Within one year 16,500 16,500 19
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEI MENTS - CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 17. MOVEMENT IN FUNDS Net movemeiil Traiisfei's in funds between fuiids AI 01104124 At 31103125 Unrestricted funds General PLirpose tund Artists. fLind 68,502 111,297 {10,623} 16,200 169,176 16,200 Restricted funds Shared Prosperity Fund 75,673 {62.263) (5,577) 7,833 TOTAL FUNDS 144,175 49.034 193,209 Net Inovemenl in funds, included in the above are as follows: Iiicoming resoLirces Resolirces expended Gains and Movement in losses funds Unrestrieted funds General piirpose tund Artists. fund 347,334 {236,037) 111,297 Restricted funds Shared Pro%pcrity Fund 318,324 {380,587} (62,263) TOTAL FUNDS 665.658 616,624) 49,034 20
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 3IST MARCH 2025 17. MOVEMENT IN FUNDS (continued) Comparatives for movement in funds Net movement Transfei's in funds between funds AI 01104123 AI 31103124 Unrestricted funds General puiyose fund ArtlSLs flind 39,260 29,242 68,502 Restricted funds Shared Prosperity Fund 75,673 75,673 TOTAL FUNDS 39.260 104,915 144,175 Net movemeiil iii funds, iiicluded in the above are as follows: Iiicoming resoiirces Resoiirces expeiided Gains and Movement iii losses funds Unrestricted funds General purpose fund Ai'tists fund 173,656 (144,414) 29,242 Restricted funds Shared Prosperity Fund 271,706 (196,033) 75,673 TOTAL FUNDS 445,362 340.447 104.915 21
MIRACLE THEATRE TRUST LIMITED NOTES TO THE filNANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 17. MOVEMENT Ity FUtYDS (continued) A ciiri'eiit year 12 months and prior yeai. 12 Inonihs combined position is. as follow.8'. Net moveiment Transfers ii) fLinds between funds AI 01104123 AI 31103125 Unrestricted funds Geiieral PLirpose fund Arlists, flind 39,260 140,539 (10,623) 16,200 169,176 16,200 Restricted funds Shared Pi'osperity Fund 13,410 (5,577) 7,833 39,260 153,949 193,209 TOTAL FUNDS A current year 12 moiiths aiid prior year 12 months combined net moveinent in funds, inclLided in Ilie above al'e as follows= Iiicoining resoiirces Resoiirces expeiided Gains and Moveinent in losses funcls Unrestricted funds Gcneral purpose fiind Ai'lists fund 520,990 (380,451) 140.539 Restrieted funds Shared Prospcrily Fund 590,030 (576,620) 13,410 TOTAL FUNDS 1,111,020 957,071) 153,949 Purpose of restricted tunds Shared Prosperity Fund- to support the Miracle Max project between 2023-25 22
MIRACLE THEATRE TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST MARCH 2025 18. RELATED PARTY DISCLOSURES The charity has taken advantage of the exemption, linder the terixs ol Fiiiancial Reportiiig, Standord l O? -The rinanLi<il Reporliii(J Standai'd appliL4ble iii tIiL UK aiid Republiu ot Ii'elciiid, not lo disclosL relalLd pai'ly Ii'EiII.8dLlions with wholly owned subsidiaries within the group. 23
MIRACLE THEATRE TRUST LIMITED DETAILF,D STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED.3IST MARCH 2025 2025 2024 INCOME AND ENDOWMENTS FROM Donations And legAcies Arts Council of Englaiid core fiinding Arts Council England- cultLiral recovery fund Coriiwall Council core fundiiig Coriiwall Coiiiicil Covid suppoi't grants Cultivator Grants FEAST Project fLinding Shared Prosperity Fund Other grants Donations and partnerships 96,748 96,748 10,000 10,000 318,324 5,000 6,347 271,706 5,000 1,9(14 436,419 385,358 Other trading aetivitles Sale of merchandise Hire of equipment Rchearsal space income Profil on disposal of capital equipment Miscellaneous income 412 3,866 2,791 17 1,363 1,438 2,305 26 1,579 8,647 5,149 Investments Deposit account interest Income from charitable activities Fees and box office takings for sliows Cominissions Sales of prograinmes Sncome froim workshops 205,742 8,358 3,742 2.750 42,644 7,500 1,153 3.559 220,592 54,856 Total income and endowments 665,C)58 445,362 EXPEiYDITURE ON Other trading activities Siipport costs 49,140 46,618 49,140 46,618 Charitable activities Production costs Fees Touring costs 230,313 8,443 107,926 134,323 28,938 Carried forward 346,682 1()2,721 24
MIRACLE THEATRE TRUST LIMITED DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 Charitable activities Brought forward Promotional costs Workshop edLication projects Motor and travel expeiises 346,682 69,914 162,721 17,661 9.362 3,30() 6,896 423,492 193,050 Support Costs Salaries Contractual staff Rent and rates Insuraiice Telephone Postage and Stationery Coinpllter costs Sundrie5 Repairs and renewals Staff recrLlltment and training Bank charges Accountancy fees Consultancy Depreciation Irrecoverable VAT Governance ¢osts 40,031 26,770 7,628 2,154 787 394 7,671 6,694 7,208 1,122 76 2,108 4,747 5,616 17,753 13,232 32,710 13,365 13,746 1,785 1,004 2,631 6,959 2.127 1.301 286 867 7,554 4,371 12,044 143.992 100.779 Total expenditure 616.624 340,447 Net (expenditur¢)/in¢ome 49,034 104.915. This page does not form part of tlie statlilory financial stateinents 25